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


Bluesparks & Others restrained from making offer

News Release
23 May 2002

Bluesparks & Others restrained from making new offer to some
Otago Power Limited shareholders

The Takeovers Panel has restrained Bluesparks & Others from soliciting or acting on any acceptances resulting from letters sent to the largest shareholders in Otago Power Limited on or about 22 May 2002.

This order expires at 5.00 p.m. on 31 May 2002.

The restraining order followed a request to the Panel from One Otago Limited (OPL) earlier today. OPL asked the Panel to convene a meeting and make interim restraining orders relating to letters sent by Bluesparks & Others to certain shareholders in OPL.

The Panel considers that the letters may constitute a variation of Bluesparks & Others’ offer dated 8 May 2002. The Takeovers Code limits the way in which an offer can be varied.

The Panel will hold a meeting to decide whether to exercise its powers under section 32 of the Takeovers Act 1993. The meeting will be held at 10.00 a.m. on Wednesday 29 May 2002. The meeting will be a private meeting.

… ends …

© Scoop Media

Business Headlines | Sci-Tech Headlines


Retail: International Websites To Pay GST

New rules would be aimed at imported goods valued at or below $1,000. Customs would retain responsibility for collecting GST on imported parcels valued more than $1,000. More>>


High-Level Advice: PM’s Business Advisory Council Membership Announced

The Prime Minister’s Business Advisory Council brings together a mix of experts, six women and seven men with small to large business experience, from across New Zealand, to provide advice. More>>


Improving: Report Shows New Zealand Air Quality 'Good'

Our air 2018, produced by the Ministry for the Environment and Stats NZ, shows that while some previously known issues persist, progress has been made and levels of some pollutants are declining. More>>


Greenpeace: Govt Extends OMV Exploration Permit

The Government has just granted oil giant OMV a two-year extension to drill in the Great South Basin, despite issuing a ban on new oil and gas exploration permits in April. More>>


Collective Bargaining For Contractors: Working Group's Model For Screen Sector

A recommended model to allow collective bargaining for contractors in the screen sector has today been unveiled by the Government-convened Film Industry Working Group. More>>


Kauri Dieback: DOC Closing Tracks To Protect Trees

The Department of Conservation will close 21 tracks across kauri land to help prevent the spread of kauri dieback. An additional 10 tracks will also be partially closed and the open sections upgraded... More>>