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Rural Equities Limited joins Unlisted

Rural Equities Limited joins Unlisted

Rural Equities Limited has joined the increasing number of small to medium sized New Zealand companies who have chosen to become Issuers on Unlisted, the internet-based share-trading platform. Shares in Rural Equities are now available for trading via the Unlisted website at www.unlisted.co.nz.

James Wright, Company Secretary for Rural Equities, said “Unlisted provides an easily accessible market for brokers. In addition, shareholders can easily monitor the market through the internet site”. As of 1 March 2004, Rural Equities had 3,330 shareholders. Mr Wright said that becoming an Unlisted Issuer “should see a reasonably active market for Rural Equities Limited shares”.

Rural Equities is now a stand-alone entity from the Williams & Kettle Limited Group. This follows the transfer of Williams & Kettle’s interest in the management of the New Zealand Rural Property Trust, and their 32% stake in the Trust, to Williams and Kettle’s shareholders through a pro-rata court-approved scheme of arrangement.

As a result each Williams & Kettle shareholder received shares in Rural Equities on 1 March 2004. Rural Equities Limited joins the eight other Issuers currently quoted on the Unlisted trading facility: Bridgecorp Holdings Ltd, Skyline Enterprises Ltd, Blue Sky Meats Ltd, Waipara Hills Wine Estates Ltd, INTAZ Ltd, Rangatira Ltd, the New Zealand Rural Property Trust, and Tasman Farms Ltd.

Unlisted allows small to medium sized New Zealand companies to facilitate the trading of their shares and to communicate with their shareholders, through a central, easilyaccessible, Internet-based trading facility. While not a registered stock exchange, for many companies Unlisted will act as a stepping-stone on the path to a registered exchange listing.


ENDS

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