Forum Archive Index - August 2000

["Wedde, John" <john.wedde@cit.ac.nz>]

Without  suggesting Sharechat gets you talking to yourself, but nevertheless
to respond to my own message earlier today regarding the strong move up in
Southern Capital Shares yesterday and today, it appears that the latest
notice to the Stock Market at  1248 today would explain things. Once again
there are obviously  some people who get this type of news before the rest
of us. The A2 Corporation news is particularly interesting, given the recent
discussion in Sharechat on this company.
Cheers
John

  
 Southern Capital Ordinary Shares ANNOUNCEMENT  
SCL
04/08/2000
ASSET

REL: 1248 HRS Southern Capital Limited

ASSET: SCL: SETTLEMENT SALE OF GOSLING CHAPMAN BLDG / A2 CORP LTD.

Southern Capital announced the following events:
1.      Settlement on the sale of the Gosling Chapman Building - The sale,
whV
was announced on 29/06/00, has now settled and the proceeds used to retire
the outstanding debt of the parent company.  Southern Capital is now in a
net
cash position.
2.      A2 Corporation Limited - In February 2000 Southern Capital made a
smaF
outlay as a founding shareholder in A2 Corporation which was subsequently
traded on the unlisted securities facility of the NZSE.  A2 shares were
originally issued to investors at 10cps and have traded strongly to present
levels of around $3.90 per share.  At the current price this investment is
now a material component of Southern Capital's investment portfolio.
Southern Capital owns 1.925m shares now valued at $7.5m.
3.      Independent Commissioner rules in favour of Pegasus Bay Town - After
N
2nd independent hearing in 2 years, planning commissioner John Milligan has
recommended in favour of the new town proposal at Pegasus Bay, 20km north of
Christchurch.  Waimakariri District Council adopted his recommendation at
its
last meeting.  Pegasus Bay Coastal Estates, a wholly owned subsidiary of
Southern Capital, is the developer.  The proposed Pegasus Bay town site
occupies 341 hectares immediately east of Woodend and is planned for 1,800
dwellings and a population of 5,000.  The built-out value of the town would
be $130m.
END
End CA:00058324 For:SCL    Type:ASSET      Time:2000-08-04:12:52:00
Encrypt:Y





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