Retail Gas Provider E-Gas Placed in Liquidation

News Release
19th October 2010

Retail Gas Provider E-Gas Placed in Liquidation

The Shareholders of E-Gas Limited, E-Gas 2000 Limited and E-Gas Services Limited (collectively the “E-Gas Group”) yesterday resolved to appoint Stephen Tubbs, Brian Mayo Smith and Jeff Hart of BDO Chartered Accountants as Liquidators.

E-Gas which retails natural gas to over 7,000 gas consumers in the North Island has faced increasingly difficult trading conditions together with other non recoverable increasing operational costs.

The Liquidators are working cooperatively with the gas supplier and network providers to ensure there is no disruption to customers and their gas supply. Customers or Creditors with concerns are asked to contact the Company’s call centre on 0800 432 876.

The Liquidators objective is to preserve the businesses operations and value. We have received expressions of interest from a number of parties interested in purchasing the business.

Any party who has an interest and would like to receive further information from the Liquidators should contact Jeff Hart at BDO Wellington on 04 472 5850.

ENDS

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