----- Original Message -----
Sent: Tuesday, August 15, 2000 9:16
AM
Subject: [sharechat] You mentioned AQL
yesterday Oliver
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
See IRG research reports
