Trust Nears 15 per cent Transalta Goal
Hutt Mana Energy Trust has lifted its shareholding in
New Zealand to 14.48% with the purchase of another 1% this week from
a major institution.
Trust has been buying shares since the end of June when it
resolved to try and lift its shareholding in TransAlta to 15%.
The Trust informed the Stock Exchange recently
it had bought a
little over 1% during the past two months and today reported that it
has acquired another large parcel.
The average price paid by the Trust for
the purchases since June
Chris Kirk-Burnnand said the Trust has been
specifically targeting institutional sellers because it wants the
remaining 24,000 small shareholders to retain their shares.
"As a Trust, we think it is very important that
retains a broad public shareholding.
"We urge all remaining shareholders, particularly small
to sell their shares."