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

 

Rubicon approves GPG “variation”

Auckland, 24 September 2002 – On 19 September 2002, the Special Committee of the Board of Rubicon Limited (Rubicon) advised GPG Forests Limited (GPG) that it was prepared to agree to GPG’s request to amend the form of the partial takeover offer attached to GPG’s notice of intention to make an offer dated 28 August 2002. GPG has today advised Rubicon that (if it determines to make the offer) it will despatch it to Rubicon shareholders on Friday 27 September 2002.

On this basis, Rubicon has advised GPG that it approves the variations sought by GPG.

GPG’s revised offer (if made) would be for 40% of the outstanding Rubicon shares that GPG does not already own at a price of 75 cents per share, conditional on achieving acceptances which would leave GPG holding more than 50% of Rubicon.

Rubicon said that its Response Statement and an independent report from Grant Samuel & Associates Limited would be available for dispatch to Rubicon shareholders on Friday.

END


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Trees: Surge Funding For Kauri Dieback And Myrtle Rust Research

“The $13.75 million investment announced today will mean that scientists can begin critically important research into kauri dieback and myrtle rust. It is vital that we get this work underway now to ensure that we combat these two pathogens and protect these taonga species." More>>

ALSO:

In Time For The Cup: Spark Sets 5G Date, Without Any Spectrum

Spark chief executive Simon Moutter has a big hairy audacious goal, to get the company's 5G mobile network up and running by July 2020 ... More>>

ALSO:

Mesh Mess: Commerce Commission To Appeal Steel & Tube Sentence

The Commission has today filed an appeal against the sentence imposed on Steel and Tube Holdings Limited (Steel & Tube) for false and misleading representations about steel mesh products. More>>

"Bipartisan Inaction": Rapid Rent Increases

The median nationwide rent has gone up $20 a week over the past two month, a rapid increase that is part of an upward trend overseen by both Labour and National Governments... More>>

ALSO: