Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Special Shareholders’ Meeting

Sir Dryden Spring Has Decided Not To Chair Special Shareholders’ Meeting

Auckland, 9 August 2002 – Sir Dryden Spring today announced that he would not chair the Fletcher Challenge Forests Special Shareholder Meeting next Tuesday.

Sir Dryden said it was very important that shareholders who give proxies to the Chairman of the meeting are satisfied that they will be validly exercised. “In light of legal uncertainty, I suggested to the Board that I not chair the meeting”, said Sir Dryden, “and they have accepted that recommendation.”

The Board will elect Director Michael Walls to chair the Meeting. Mr Walls will also accept proxies from ADR holders.

The Market Surveillance Panel yesterday pointed to legal uncertainty about Sir Dryden’s status in voting any proxies given to the Chairman at the Special Shareholder Meeting. This uncertainty arises because Sir Dryden is a director of the National Bank, which is a current lender to the CNIFP and a proposed new lender to Fletcher Challenge Forests in the CNIFP proposal.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Financial Markets Authority: Online Investing Platforms Transform Attitudes To Investing

Eight out of 10 New Zealand investors have a more favourable view of investing and financial markets after using online investing platforms, according to research released today by the Financial Markets Authority - Te Mana Tātai Hokohoko... More>>

Barfoot and Thompson: Auckland Housing Prices Shrug Off Winter Concerns

Auckland house prices shrugged off the normal winter downturn, concerns about increasing prices and warnings of possible future interest rate rises in July.
“Mounting concerns about the prices being paid and possible future interest rate increases did nothing to dampen July trading... More>>

Stats NZ: Sharp Falls In Unemployment And Underutilisation

The seasonally adjusted unemployment and underutilisation rates fell to 4.0 and 10.5 percent, respectively, in the June 2021 quarter, Stats NZ said today. The unemployment rate continued to fall from its recent peak of 5.3 percent in the September 2020 quarter... More>>

ASB: Labour Shortage Sting Set To Cause Issues For Years According To Latest Quarterly Economic Forecast

There are positives and negatives in the latest ASB Quarterly Economic Forecast as New Zealand continues to bounce back strongly from COVID-19. The closed border is putting additional strain on the country’s labour market... More>>

Transport: July 2021 New Vehicle Registrations Boosted By EV Rebate Scheme
Motor Industry Association Chief Executive David Crawford says that July 2021 sales of new vehicles were boosted by the recently introduced rebate scheme. July 2021 registrations were 15,053 units compared to 12,263 units for July 2020... More>>

ASB: New Support Finder Tool Helps Connect Customers With Thousands In Government Support

ASB research alongside benefit numbers from the Ministry of Social Development shows an increased number of Kiwis are struggling financially, and many may not be aware they’re eligible for government support... More>>