Forum Archive Index - August 2000

["G.P.Thompson" <gp.thompson@bitworks.co.nz>]

FEG is up 2.4% t0 7.95 this morning

 

REL: 0943 HRS Fletcher Challenge Limited

GEN: FEG: FLETCHER CHALLENGE ENERGY SEPARATION PROCESS UPDATE

Commenting on the application to the New Zealand Commerce Commission filed by
Shell Exploration Company BV ("Shell") this morning to acquire the New
Zealand operations of Fletcher Challenge Energy, Michael Andrews the CEO of
Fletcher Challenge Limited said today: "the approval of the Commerce
Commission is an obvious and necessary pre-condition to any potential
purchase of these assets by Shell.  Clearly we do not know whether Shell will
be successful in its application and if it is, whether it will move to submit
an offer for these assets.  Therefore, this application should be seen as a
very preliminary step in a long process", he said._
Mr Andrews reiterated the commitment of the company to keep shareholders
informed of progress in the dismantling of the group targeted share
structure._
END