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Re: [sharechat] RE: know your rights - thanks Tim!

From:	"Ian Andrews" <iandrews@ihug.co.nz>
Date:	Fri, 13 Oct 2000 11:00:58 +1300

This is definitely the way we small FFS shareholders are going to turn the tables on Deane & Co & turn our losses into profits. The only shareholders whose convenience has been considered so far seem to be the very big shareholders. We MUST make sure we have our votes recorded as AGAINST the restructure proposal at the 2 November 2000 AGM & AGAINST the separation at the January 2001 meeting.Clearly, these proposals are working against the interest of many small shareholders.

We could claim book value (c.$1.70) or whatever's "fair" for our shares. Fletchers will probably fight back with Queen St barristers, but if we unite, we should be able to get a fair settlement.

Of course, Fletchers could always try to head us off at the pass before 2 November by offering a more palatable deal!

Refer to Section 110 of the Companies Act. I used this procedure when I received a Minority Buyout settlement last year from NZ Petroleum when they converted to Eldercare.

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