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[sharechat] Eldercare in the news again.

From:	Brian Gale <brigale@i4free.co.nz>
Date:	Tue, 25 Jul 2000 14:08:19 +1200

Extract from N.Z.Herald Business News

Fletcher facing $23m insider trading case

25.07.2000 - By GEOFF SENESCALL
Fletcher Energy is at the centre of insider trading allegations over claims that it withheld price-sensitive information during its takeover of Southern Petroleum five years ago.
Leading the assault and demanding up to $23 million (or 69c a share) plus penalties is former Southern Petroleum minority shareholder Eldercare (previously New Zealand Petroleum).
It has sent letters through its lawyers to other former minority shareholders in the Fletcher subsidiary, inviting them to put $288 each into a fighting fund to take action under the insider trading provisions of the Securities Amendment Act 1988.
An application is set down to be heard in the High Court at Auckland on August 14.

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