Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Force Corporation Acquisition of ihug Delayed

PRESS STATEMENT

For release 17 April 2000

Force Corporation Acquisition of ihug Delayed

Shareholders of Force Corporation today voted to adjourn a special shareholder meeting which had been called to vote on the company's acquisition of The Internet Group (ihug).

The shareholders voted to adjourn the meeting until 15th May.

The decision was clearly influenced by the major movement in the Nasdaq and the movement in the valuation of internet stocks generally over the past week.

Force Corporation says that with the sharemarket so unsettled, its major institutional shareholders wanted more time to assess the situation before being asked to vote on such a major transaction for the company.

The contract relating to Force Corporation's proposed acquisition of The Internet Group could be terminated by either party after 5pm on 20th April but at this stage remains on foot.

For more information, contact Peter Holdaway at Force Corporation on (09) 302 7078 or 021 930 641.


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Dry: Beef + Lamb Launches Drought Resources

The resources include a fact sheet outlining strategies to manage and mitigate the effects of drought, coping with stress on the farm and advice on feed requirements and animal welfare during the dry period. More>>

ALSO:

InternetNZ: Net Neutrality Failure In US "Will Hurt All Users"

InternetNZ Chief Executive Jordan Carter has condemned the decision by the United States communications regulator to undo 2015 open Internet rules, warning that all Internet users will end up worse off as a result. More>>

ALSO:

Mycoplasma Bovis: More Properties Positive

One of the latest infected properties is in the Hastings district, the other three are within a farming enterprise in Winton. The suspect property is near Ashburton. More>>

ALSO:

Manawatū Gorge Alternative: More Work Needed To Choose Route

“We are currently working closely and in partnership with local councils and other stakeholders to make the right long-term decision. It’s vital we have strong support on the new route as it will represent a very significant long-term investment and it will need to serve the region and the country for decades to come.” More>>

ALSO:

ScoopPro: Helping PR Professionals Get More Out Of Scoop

Scoop.co.nz has been a fixture of New Zealand’s news and Public Relations infrastructure for over 18 years. However, without the financial assistance of those using Scoop in a professional context in key sectors such as Public Relations and media, Scoop will not be able to continue this service... More>>