High Court Rules That Rubicon Can Vote
High Court Rules That Rubicon Can Vote
Auckland, 12
August 2002 – Fletcher Challenge Forests announced today
that the High Court in Auckland had confirmed that the
Company’s largest shareholder, Rubicon, could vote on the
Special Resolution at the Special Shareholders’ Meeting on
13 August 2002. The High Court rejected arguments from
Xylem Investments that Rubicon should be precluded from
voting.
Terry McFadgen, the company’s Chief Executive, said “We are pleased to have obtained clarity on this issue, prior to our Special Shareholders’ Meeting tomorrow. The Court ruling is consistent with the legal advice we had received, and with the prior ruling of the New Zealand Stock Exchange’s Market Surveillance Panel on this issue.”
Ends