Forum Archive Index - August 2000

["Tony Haddon" <haddon@ihug.co.nz>]

For the info of any AQLites who have'nt been driven back to gainful employment, here is a response most kindly given by AQL to an email query I made...

 

 

Dear Mr Haddon,
The Aquaria 21 directors had previously considered acquiring AQLGA but
decided against for a variety of reasons.

The principal one is that although current forecasts predict the company
will have funds available to settle redemption of all Convertible Notes on
30 September 2000, this is not 100% certain.

The majority of the funds will come from settlement of the conditional sale
of the Shanghai Aquarium which is still subject to shareholder approval. If
approval is given at the Special Meeting to be held this Friday (which is
expected) settlement will occur on 15 September. Settlement of the sale of
the Korean assets is also due on that day. The amount due for the sale of
Shanghai is however subject to there being no claims by the purchaser under
warranties given. If warranties are substantial this will impact on the
funds available to settle the Convertible Notes. This fact has been clearly
disclosed in all the Aquaria 21 public releases and would be a factor in
AQLGA trading at the discounts it has been.

At this time the company has not been advised of any potential claims.

In these circumstances it would be inappropriate for the Company to
purchase the Notes.

Yours sincerely,
Ron Lunken
Company Secretary
-----Original Message-----
From: Tony Haddon [SMTP:haddon@ihug.co.nz]
Sent: Thursday, 10 August 2000 16:54
To: shareholder@aquaria21.co.nz
Subject: Convertible notes

 << File: ATT00000.html >> Dear Sir/Madam,

I am not currently a shareholder, however have been, & may be again !

Curiosity has the better of me ....why are you not buying back  AQLGA at
current market level ?


Rgds,    Tony Haddon