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

 

Fletcher Challenge Forests Share Put Option Lapses

FLETCHER CHALLENGE FORESTS SHARE PUT OPTION LAPSES

AUCKLAND, 23 April 2001 - The right of Rubicon Limited (Rubicon) to put up to 117 million Fletcher Challenge Forests Preference Shares to Fletcher Building Limited (Fletcher Building) has lapsed without being exercised.

As part of the transactions giving rise to the separation of the Fletcher Challenge Group, Fletcher Building granted an option to Rubicon to put to Fletcher Building at a price of $0.25 per share up to 117 million of the 267 million Fletcher Challenge Forests Preference Shares acquired by Rubicon as part of the sub-underwriting arrangements entered into in connection with the Fletcher Challenge Forests rights issue completed in December 2000. That option was exercisable by Rubicon up to 22 April 2001 and has now lapsed.

Fletcher Building does not own any Fletcher Challenge Forests shares.

Ends



© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Electricity Market: Power Panel Favours Scrapping Low-Fixed Charges

An independent panel reviewing electricity prices favours scrapping the government’s low-user fixed charge regime, banning the use of prompt-payment discounts, and requiring greater disclosure of the profit split between the retail and generation arms of the major power companies. More>>

ALSO:

Bottomless Oil And Zero Climate Cost: Greenpeace Not Big On PEPANZ Gas Ban Report

The NZIER report commissioned by oil industry body, PEPANZ, claims the oil and gas ban issued by the Government last April could cost the the New Zealand economy $28 billion by 2050... But Greenpeace says the figures in the report are based on false assumptions and alternative facts. More>>

ALSO:

Two Queensland Fruit Flies And A Different One In Otara: Devonport Fruit And Veg Lockdown

Work continues at pace on the biosecurity response following the discovery last week of one male Queensland fruit fly in a surveillance trap in the Auckland suburb of Devonport. More>>

ALSO:

Digital Services Tax: Government To Plan Tax On Web Operator Income

New Zealand is to consult on the design of changes to tax rules which currently allow multinational companies in the digital services field to do business here without paying income tax. More>>

ALSO: