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Govt accepts Labour supplementary disclosure recommendation

Clayton
COSGROVE
Spokesperson for SOEs

22 April 2013 MEDIA STATEMENT
Govt accepts Labour’s supplementary disclosure recommendation as the right thing to do

After five days of going troppo National has finally calmed down and allowed those who have applied to buy shares in Mighty River Power the opportunity to reconsider, says Labour’s SOEs spokesperson Clayton Cosgrove.

“On Thursday, as part of the announcement of Labour’s NZ Power policy, David Shearer wrote to the Government and directors of Mighty River Power to recommend they consider a supplementary disclosure to the prospectus. This gives those who had already offered to buy shares a grace period to assess the information and make a judgement as to whether they wish to continue to invest.

“Labour has been responsible in recommending to the Government and the board this course of action.

“Investors need time to consider the changes we are proposing. National would be well advised to stop repeating its wild and silly accusations of socialism and communism and let cool heads prevail. The ridiculous allegation of economic sabotage has been demolished. We did the responsible thing and National has accepted our recommendation,” says Clayton Cosgrove.

ENDS

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