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Tranz Rail Resumes Share Trading

Tranz Rail Concludes Refinancing - Resumes Share Trading

Tranz Rail Holdings Ltd has asked the New Zealand Stock Exchange to lift from 12.15pm today the Exchange’s suspension of trading in the Company’s shares.

The Company has concluded its refinancing negotiations and obtained all necessary approvals to proceed with its rights issue.

Tranz Rail Chairman Wayne Walden said the successful conclusion of the refinancing negotiations, which include new arrangements for banking facilities and the lease of the Aratere interisland ferry, allows the Company to face the future with confidence.

“We’ve now resolved our outstanding capital issues. We’ve nearly completed our massive change programme. Our operating performance is meeting forecasts and we are now well placed for future growth.”

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