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

 

Edison Mission Energy – Share Offer Outcome

4 February 2002


FOR IMMEDIATE RELEASE


Edison Mission Energy – Share Offer Outcome


The chairman of Contact Energy Ltd, Mr Phil Pryke, today confirmed that Edison Mission Energy has advised that Edison Mission Energy’s offer for Contact shares has lapsed without the necessary level of acceptances having been received.

“We respect shareholders’ decision not to sell their shares at this time and view it as a vote of confidence in the future of the company,” Mr Pryke said. “We look forward to continuing to enhance shareholder value through pursuit of the company’s strategy.

“During the course of the takeover there was some discussion that Steve Barrett may return to Edison Mission Energy. The Contact board is also pleased to confirm that Steve Barrett will continue in his position as chief executive and Managing Director of Contact Energy Ltd,” Mr Pryke said.

With the outcome of the bid now known, Contact will shortly be issuing a notice to shareholders of its Annual General Meeting, which is currently planned for March 11, in Auckland.

For further information, contact:


Pattrick Smellie
Media Relations
(04) 4959753

ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Marsden Pipeline Rupture: Report Calls For Supply Improvements, Backs Digger Blame

The report makes several recommendations on how the sector can better prevent, prepare for, respond to, and recover from an incident. In particular, we consider it essential that government and industry work together to put in place and regularly practise sector-wide response plans, to improve the response to any future incident… More>>

ALSO:

Oil Scare: Trump Authorises Use Of Emergency Crude Stockpile

The New Zealand dollar fell against the US dollar after President Donald Trump authorised the use of the country's emergency crude stockpile after the weekend attack on Saudi Arabia’s major oil facilities. More>>

ALSO:

Pre-Post-Brexit Deal Talks: UK Trade Minister Visits Wellington

New Zealand should get a better deal for exports of sheepmeat, beef and dairy products into the United Kingdom after Brexit, the British Minister of State for Trade, Liz Truss, said in Wellington today. More>>

ALSO:

Not-Very Well: Tamarind Halts Tui Drilling; OMV Assesses Options

Tamarind Resources has halted drilling at its Tui oil field off the Taranaki coast after the first of the three planned wells came up dry. Managing director Ian Angell says that despite the “unexpected” result from the first well, the firm believes the other two prospects are worth pursuing. More>>

ALSO:

Seeking 'Clarity': Crown To Appeal Southern Response Decision, Offers Costs

“It is our intention that the clarity that will come from the outcome of these proceedings will enable the Crown to work with Southern Response to provide a soundly based proactive solution to those people that are affected.” More>>