Forum Archive Index - August 2000

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

Here is some information I received from Mark Harris, Manager, Investor
Relations at Fletcher Forests about a year ago when this topic came up in
sharechat:

"FFS owns 727,000 Genesis shares, or 9% based on the shares on issue at
Dec98. As a % this has probably dropped slightly this year, diluted by
Genesis staff options, but I'm not actually sure what shares they issued in
1999.

The book value of the investment has not been disclosed. Sufficient to say
its well below market. The shares were purchased at the time we started
funding the Radiata gene-mapping work by Genesis around 1995, and are just
held at cost."

I think we [Chatters] agreed that this shareholding [probably out of date
now anyway] was relatively insignificant given FFS's larger picture.

Cheers

John

-----Original Message-----
From: Les [mailto:openmind@paradise.net.nz]
Sent: Thursday, 17 August 2000 13:49
To: sharechat@sharechat.co.nz
Subject: Re: [sharechat] Genesis Research/FFS


This could be just what Fletchers need to recapitalize FFS as a stand alone
company to extract better value for shareholders over medium term.
 

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