Forum Archive Index - June 2000

[Mike Nelson <bb2345@ihug.co.nz>]

Wha a cynical person you are Oliver.

MN



At 05:55 PM 15-06-00 +1200, you wrote:
>              Oliver    ----- Original Message -----    From:    Ben   
>Dutton    To: sharechat@sharechat.co.nz    Sent: Thursday, June 15, 2000
>1:58    PM   Subject: Re: [sharechat] Fletchers and    Insider Trading   
>   Hi Oliver,       In Stephen Franks press release about the Kerry Hoggard
>matter, he    said:       "We think the most he could be ordered to pay is
>approximately $600,000,    but the final measure of damage may be
>significantly less, and the maximum    penalty the Court can award, is
>three times the gain.   
>We will also be asking the court to establish some useful precedents,    to
>reassure applicants in such cases in future that they will be fully   
>reimbursed for all the costs and risks of taking these proceedings on
>behalf    of shareholders generally. Anything received above the costs of
>the action    will go to charity."       Hope this helps answer your
>question.       Best Regards,       Benjamin Dutton
>        ----- Original Message -----      From:      Oliver Shapleski     
>To: sharechat@sharechat.co.nz      Sent: Thursday, June 15, 2000 11:02     
>AM     Subject: [sharechat] Fletchers and      Insider Trading     
>          How did      you Fletcher shareholders feel about the company not
>going any      further?                                 If      Stephen
>Franks is leading the action to restore FLC's reputation (and I      assume
>with his expertise he knows that he can), where does the money      go?    
>      Oliver
>
> 
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