Rubicon increases shareholding in FCF to 19.997%
Rubicon increases shareholding
in FCF to 19.997%
19 February 2003 – Rubicon Limited announced today that its subsidiary, Rubicon Forests Investments Limited had acquired 13.1 million shares in Fletcher Challenge Forests (FCF) at an average price of $1.10 per share, for a total cost of $14.4 million. This represents 2.348% of FCF shares on issue.
As Rubicon’s subsidiary, Rubicon Forests Holdings Limited, already owns a 17.649% interest in FCF, this means that the Rubicon Group has now moved to a 19.997% total ownership position in FCF.
The Company said today, “This move strengthens the Group’s investment in FCF, and is consistent with Rubicon’s desire to create value from its strategic shareholding”.