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Xylem To Seek Court Ruling


STOCK EXCHANGE LISTINGS: NEW ZEALAND, AUSTRALIA, NEW YORK (FFS).


Xylem To Seek Court Ruling

Fletcher Challenge Forests has been advised by solicitors acting for Xylem Investments that its client is issuing proceedings in relation to the CNIFP purchase proposal to be considered by shareholders on 13 August 2002. Rubicon Limited will be joined as a party.

Xylem has advised that it will seek a Court ruling next week on the question of Rubicon’s entitlement to vote on the resolutions to be considered at the shareholders’ meeting.

The Company has taken extensive legal advice regarding the voting entitlements of Rubicon Limited and looks forward to a judicial ruling on this matter as soon as possible.

No change to the date or time of the shareholders’ meeting is envisaged.

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