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


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>>


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>>


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>>


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>>