18 June 2004

Business as Usual on Powerco Sale Process

Today’s announcement from Powerco on the revision of its financial statements will have no impact on the sale process of the New Plymouth District Council’s 38.16 per cent shareholding.

Mayor Peter Tennent says: “The announcement is no surprise and will have no effect on the process. We have been aware of Powerco’s tax position since its merger with CentralPower in 2000.

“Furthermore, prospective buyers are also aware of this information, as it was contained in the information memorandum provided to all interested parties.”

Powerco’s revised financial statements will also have no effect on dividend payments to the council or any other shareholders, says Mayor Tennent.

“It’s business as usual – we will continue with the sale process and look forward to the receipt of indicative bids on Wednesday, 23 June.”

ENDS

© Scoop Media

Gordon Campbell: On the Sony cyber attack

Given the layers of meta-irony involved, the saga of the Sony cyber attack seemed at the outset more like a snarky European art film than a popcorn entry at the multiplex.

Yet now with (a) President Barack Obama weighing in on the side of artistic freedom and calling for the US to make a ‘proportionate response’quickly followed by (b) North Korea’s entire Internet service going down, and with both these events being followed by (c) Sony deciding to backtrack and release The Interview film that had made it a target for the dastardly North Koreans in the first place, then ay caramba…the whole world will now be watching how this affair pans out. More>>