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[sharechat] HGD announcement

From:	"Osbert Sun" <osbert.sun@xtra.co.nz>
Date:	Wed, 21 Jun 2000 22:54:31 +1200

Happy reading!

Kind regards,

Osbert Sun

--------------------------

HERITAGE GOLD NZ LIMITED
Distribution In Specie Document date: Wed 21 Jun 2000 Released time: Wed 21 Jun 2000 15:28:10 Document No: 163523 Document part: A Market Flag: Y Classification: Issued Capital - Other, Dividend Books Closing, Dividend Rate, Dividend - Other

HERITAGE GOLD NZ LIMITED                      2000-06-21  ASX-SIGNAL-G

HOMEX - Melbourne                                                     

+++++++++++++++++++++++++
The directors of Heritage Gold NZ Ltd have resolved to distribute in
specie some of the 50 million shares in its wholly owned subsidiary
Hi Tech Investments Limited (HTI) to shareholders of Heritage in the
ratio of two (2) HTI shares for every five (5) Heritage shares held.
Fractions will be rounded up to the nearest whole number.

HTI is a recently incorporated company that has no assets. For
company law purposes the distribution will be treated as a dividend
of nil value and no imputation credits will be attached to the
dividend.

Heritage will retain a residual equity interest in HTI following the
distribution.

Entitlements for Heritage shareholders will be determined at 5.00pm
on Friday, 7 July 2000 ("Record Date").


P Atkinson
MANAGING DIRECTOR

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