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

 

Shareholder vote in favour of Forests Rights Issue


Shareholder vote in favour of Forests Rights Issue

AUCKLAND, 2 November 2000 – Shareholders of Fletcher Challenge have voted in favour of the proposed offering of Fletcher Challenge Forests Rights and Preference Shares.

A resolution seeking approval of the offering was passed at the Annual Shareholders’ Meeting in Auckland today, with over 93% voting in favour.

Fletcher Challenge Chairman, Roderick Deane, welcomed the positive vote, noting that “In voting for the Rights Issue, shareholders have recognised the potential value that can be unlocked by recapitalising the Division in this way. It is a vote of confidence in Forests’ strategy.”

Shareholders of record on 10 November 2000 will qualify for the preference share entitlement. Documentation will be distributed to shareholders on 13 November 2000. The closing date for receipt of acceptances is 8 December 2000.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Up $1.20: $17.70 Minimum Wage Next Year

Coalition Government signals how it will move toward its goal of a $20 p/h minimum wage by 2021... “Today we are announcing that the minimum wage will increase to $17.70 an hour on 1 April 2019." More>>

ALSO:

Reserve Bank: Capital Proposals Are 'Radical', Says Fitch

International credit rating agency Fitch says the Reserve Bank's proposals for increased bank capital adequacy ratios are "radical" and "highly conservative relative to international peers", but the result will ultimately be "significantly stronger buffers" against financial system shocks. More>>

ALSO:

Regions And Skills: Work Visa Proposals 'Step In The Right Direction'

Immigration Minister Iain Lees-Galloway announced yesterday that the Government is consulting on proposed changes to employer-assisted temporary work visa settings to ensure that work visas issued reflect genuine regional skill shortages. More>>

ALSO:

Long Commutes: Hamilton To Auckland Passenger Rail Trial Gets Green Light

The NZ Transport Agency Board has approved a business case for the next steps in a start-up trial Hamilton to Auckland passenger rail service, Transport Minister Phil Twyford announced. More>>

ALSO:

Working Group Update: Mycoplasma Bovis Eradication Making Substantial Progress

International experts are impressed by New Zealand’s efforts to eradicate the cattle disease Mycoplasma bovis and are more confident the campaign is working... More>>

ALSO:

Immigration: Arrest For Human Trafficking And Slavery

It is alleged that the man, who is a Samoan national and New Zealand resident, has been regularly bringing Samoan nationals to New Zealand to work illegally for him in the horticultural industry. More>>

ALSO: