Trust Nears 15 per cent Transalta Goal

Monday, 13 September 1999, 3:39 pm
Press Release: Mediacom press release distribution

Hutt Mana Energy Trust has lifted its shareholding in TransAlta
New Zealand to 14.48% with the purchase of another 1% this week from
a major institution.

The 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
is $2.22.

Trust chairman 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 TransAlta NZ
retains a broad public shareholding.

"We urge all remaining shareholders, particularly small ones, not
to sell their shares."

ENDS....

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