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re: re: [sharechat] twr

From:	Mike Hudson <MHudson@placemakers.co.nz>
Date:	Wed, 24 May 2000 15:45:40 +1200

"Oliver, I thought it was common knowledge that TOWER was "in play", i.e.
takeover by one of the bigger Insurance companies is imminent. I hope this
is more than a rumour & it is starting to look like it is. 
disclosure, Holder of TWR, bought at issue. Regards, Pete R."

I am talking from memory and somebody on this board will be able to provide
the exact details but you need to remember that under the Tower constitution
no one shareholder is allowed to own more that 10% of the company for the
first two or three years (I am not sure which).

This provision can no doubt be overturned by a majority of the shareholders
but it all goes to make a take over more difficult.

Cheers
Mike  



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