Forum Archive Index - March 2000

["Wedde, John" <john.wedde@cit.ac.nz>]

Further to my earlier message here is info received from Mark Harris,
Manager, Investor Relations at Fletcher Forests:

"FFS owns 727,000 Genesis shares, or 9% based on the shares on issue at
Dec98.  As a % this has probably dropped slightly this year, diluted by
Genesis staff options, but I'm not actually sure what shares they issued in
1999.
The book value of the investment has not been disclosed.  Sufficient to say
its well below market.  The shares were purchased at the time we started
funding the Radiata gene-mapping work by Genesis around 1995, and are just
held at cost."
Whether 9% is a significant holding I guess depends on, amongst other
things,  the relative size of this parcel compared to other major
shareholdings. It would be interesting to know also whether Fletchers will
be increasing their stake when Genesis list on the main board. I didn't ask
this question but doubt, if I had, that I would have got a definitive
answer.
Cheers


John Wedde BCA, MA, Senior Lecturer, Business Communication
Programme Leader, NZ Diploma in Business
Central Institute of Technology
Box 40 740 Upper Hutt, New Zealand
EMail: John.Wedde@cit.ac.nz <mailto:John.Wedde@cit.ac.nz> 
Phone: 5276397 EXT. 6747 Mobile 025843729

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