Forum Archive Index - February 2000

["Stuart Allen" <sj.allen@ihug.co.nz>]

Frank
can you tell me, are all shareholders given the opportunity to attend the
AGM.
last year i was looking forward to the ADV AGM, but all i got was an annual
report.
i guess they didn't want small fry like me taking up space.

cheers stuart



----- Original Message -----
From: frank <frank.fernandez@xtra.co.nz>
To: <sharechat@sharechat.co.nz>
Sent: Wednesday, 9 February 2000 21:58
Subject: [sharechat] Wait likely for AQL's new direction


> Les,
> Like you, I do not believe anything has diverted AQL from its proposed
> course of action i.e. divestment of its assets albeit through a lengthy
> and laborious process which will involve Bliss and AQL shareholder
> meetings to ratify the proposals, and then the second stage process for
> Bliss to relist on the ASX before the sale process can progress.
> On reflection, I doubt if any 'future direction' announcement will or
> can be made at the impending AQL shareholders meeting until the
> completion of all the divestment formalities.
> In an identical case involving Strathmore last year, an announcement was
> made on 4 June saying that Strathmore was divesting itself of its two
> assets and would become a shell company with $2.1 million left in cash.
> When asked about the company's future direction, then principal owner
> Ray Thomson said the company had no plans for the future except that
> "something was being worked on".
> Three months later (exactly to the day) on 4 September, the new
> direction for Strathmore was announced much to the delight of those who
> had hung onto their 17c SMR shares.
> While unlimited reservoirs of patience is obviously necessary with this
> stock, I do hope that AQL investors will not have to wait too long (like
> Strathmore investors) before the new direction for the company can be
> determined.
> One possible way to ensure that AQL come up with some answers is to be
> present at the shareholders meeting (which I imagine would be held in
> Auckland) and to ask pertinent questions.
> I intend to be there and I hope many of my fellow sharechat subscribers
> will join me on the day - after all, unity is strength!
> Talking about the shareholders meeting, I wrote to Ron Lunken, the
> Company Secretary of AQL earlier this week asking for details about the
> meeting and the proposed agenda. As befitting his role of Company
> Secretary and guardian of the company's secrets, Mr Lunken's reply gave
> little away. For the benefit of Sharechat subscribers, here it is:
>
> Subject: RE: Shareholders meeting/Agenda
> Date: Tue, 8 Feb 2000 08:58:23 +1300
> From: Ron Lunken <aquaria@xtra.co.nz>
> Organization: Aquaria 21 Limited
> To: "'frank.fernandez@xtra.co.nz'" <frank.fernandez@xtra.co.nz>
>
> Dear Mr Fernandez,
> The forthcoming special meeting of shareholders is planned for early
> March.
> A definite date cannot be set as we are dependent on approval of the NZ
> Stock Exchange of the information memorandum, notice of meeting etc. We
> have been unable to complete this to submit to the exchange earlier as
> we
> were dependent upon Bliss Corporation completing a similar exercise for
> the
> Australian Stock Exchange.
> The items on the agenda will be the seeking of shareholder approval for
> the
> Bliss transaction and approval to sell down Bliss shares that will be
> allocated to Aquaria 21 upon completion of that transaction. Other minor
> matters may also be on the agenda. All will be detailed in the notice
> and
> accompanying reports which will be mailed to shareholders 2 weeks prior
> to
> the meeting.
> Yours sincerely,
> Ron Lunken
> Company Secretary
>
> --------------------------------------------------------------------------
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