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Takeovers Panel Cancels Richmond Meeting

Takeovers Panel Cancels Richmond Meeting

The Takeovers Panel has cancelled the meeting concerning the certification of Richmond Limited’s recent target company statement.

The meeting was to have been held on Thursday 22 July 2004 in Wellington. The Panel cancelled the meeting after Richmond confirmed that the chief financial officer on the date of issue of the target company statement, i.e. 6 July 2004, had signed a certificate in the appropriate regulatory form.

A requirement of the Code is that the content of the target company statement is certified by the target company’s chief executive officer, chief financial officer and two directors. This is regarded by the Panel as a fundamental requirement of the Code.

It is intended to give shareholders confidence that the most senior and relevant executive officers of the company, plus the board of directors, have taken responsibility for the veracity of the information in the target company statement.

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