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

 


Special Shareholders’ Meeting

Sir Dryden Spring Has Decided Not To Chair Special Shareholders’ Meeting

Auckland, 9 August 2002 – Sir Dryden Spring today announced that he would not chair the Fletcher Challenge Forests Special Shareholder Meeting next Tuesday.

Sir Dryden said it was very important that shareholders who give proxies to the Chairman of the meeting are satisfied that they will be validly exercised. “In light of legal uncertainty, I suggested to the Board that I not chair the meeting”, said Sir Dryden, “and they have accepted that recommendation.”

The Board will elect Director Michael Walls to chair the Meeting. Mr Walls will also accept proxies from ADR holders.

The Market Surveillance Panel yesterday pointed to legal uncertainty about Sir Dryden’s status in voting any proxies given to the Chairman at the Special Shareholder Meeting. This uncertainty arises because Sir Dryden is a director of the National Bank, which is a current lender to the CNIFP and a proposed new lender to Fletcher Challenge Forests in the CNIFP proposal.


Ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news