Forum Archive Index - March 2000

["hyperion" <hyperion@ihug.co.nz>]

FOR
10/03/2000
ASSET

REL: 0910 HRS Force Corporation Limited

ASSET: FOR: SETTLEMENT OF FORCE ENTERTAINMENT CENTRE DELAYED

Force Corporation advised that the settlement of the Force Entertainment
Centre is delayed as a result of a dispute with Trust Company of Australia
Limited (the Buyer). The buyer contends that practical completion of the
shell of the Centre was not achieved by 30/12/99. We were issued with a
Certificate of Practical Completion on that date and accordingly are
demanding the buyer comply with the terms of the Share Purchase and Loan
Deed
which sets our procedures leading up to settlement. Force also advised that
the Centre is now fully leased and has an annual rent roll of approximately
$6.8m.
End

hope that sheds a little light on it

Cheers...


----- Original Message -----
From: Mike Nelson <bb2345@pop.ihug.co.nz>
To: <sharechat@sharechat.co.nz>
Sent: Tuesday, March 14, 2000 11:49 AM
Subject: Re: [sharechat] FOR: $50M Dispute


> Could you give some idea of the content of the article you refer to please
?
>
> MN
>
>
>
> At 09:23 AM 14/03/00 +1300, you wrote:
> >Having just read this article in the Australian Financial Review it does
not
> >look good for Force/Ihug.
> >
> >Is this dispute a new one regarding the Force Entertainment Centre or is
it
> >the same dispute that has been doing the rounds lately?
> >
> >If this is a new dispute, expect the share price to keep on tracking
down.
> >
> >Craig
> >
>
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