Forum Archive Index - April 2003

["Ben Dutton" <bendutton@sharechat.co.nz>]

Hi everyone,

I'm like to announce that Iguana2, the company that owns ShareChat, has sold
ShareChat to Tarawera Publishing.

This means that I'll be leaving ShareChat as the website publisher and
manager.  Some of you may know that I co-founded ShareChat along with Will
Bryant back in August 1999.  In May 2001 we sold the company to Iguana2, but
I remained as publisher, and Will as the technical manager.

After working on the site for almost four years, it's going to be sad to
leave.  I've made many great friends on the Forum, and have always enjoyed
the discussions and banter that have taken place.

While personally sad though, it's going to be exciting to see what Tarawera
Publishing do with the site.  Some of you may know that Tarawera own the
greatly admired money management site, Good Returns.  Their experience in
the online world will see ShareChat grow and prosper in the future.

Though I will no longer be working on ShareChat, I'll still be subscribed to
the Forum and will actively participate in the community.

Thanks everyone for making this such a wonderful past four years - I wish
ShareChat and all its contributors all the best for the future and of course
all the best with your trading and investing.

Best Regards

Ben Dutton
Iguana2


Full press release:

Iguana2 sells ShareChat website to Tarawera Publishing

Iguana2 Pty Ltd today announced the sale of ShareChat (www.sharechat.co.nz),
its New Zealand sharemarket information website, to Tarawera Publishing Ltd
(TPL).

Tarawera Publishing is a successful online publishing business which
produces the leading personal finance site Good Returns
(www.goodreturns.co.nz).

Iguana2 product manager Ben Dutton says the decision to divest the asset was
made following a strategic review of Iguana2's business direction.

"Iguana2 decided to remove itself from the consumer web market to focus on
our corporate clients," Mr Dutton says. "Even though the ShareChat website
has remained extremely popular and a market leader, it does not fit with our
future business objectives."

ShareChat was bought by Iguana2 in May 2001 to use as a channel to sell
Iguana2 consumer products. An Australian version of the site was also
planned but, because of the depressed internet advertising market, this was
cancelled.

"We felt a New Zealand based publishing company would be more suitable to
capitalise on the opportunities the ShareChat site presents," Mr Dutton
says. "Tarawera Publishing is well placed to further grow and enhance the
ShareChat website."

Tarawera Publishing managing director Philip Macalister says that ShareChat
is a good fit with the company's four existing publications; Good Returns,
Asset, The NZ Mortgage Mag and Adviser.

Currently Tarawera Publishing provides a wide range of information across
the personal finance market including mortgages, superannuation, managed
funds, financial planning and insurance.

"ShareChat will help us provide readers with more in-depth information about
New Zealand shares," Mr Macalister says.

Good Returns was launched in 1996 and has been a dot.com success story in
New Zealand.

"Tarawera Publishing has a lot of experience in the online publishing
world," Mr Macalister says. "These skills will help us grow the business and
provide increased services to ShareChat readers."

[ends]

For further information contact:

Ben Dutton
Iguana2 Pty Ltd
Phone: +61 (0)2 9380 8099
Mobile: +61 (0)414 225 882
Email: bendutton@iguana2.com

Philip Macalister
Tarawera Publishing Ltd
Phone 07-3456869
Mobile 0274-377527
Email: philip@goodreturns.co.nz

About Tarawera Publishing Ltd

Tarawera Publishing is a pre-eminent publisher of personal finance
information in New Zealand. The company, which is based in Rotorua,
publishes online money management magazine Good Returns
(www.goodreturns.co.nz), and three print magazines; Asset, The NZ Mortgage
Mag and Adviser - the Official Journal of the Financial Planners and
Insurance Advisers Association.

Besides providing news, information and data, Good Returns runs a successful
online bookstore and organises the annual Financial Planner of the Year
Awards.

About Iguana2

Iguana2 is an aggregator and reseller of stockmarket data to the financial
services community. Based in Sydney, Australia, Iguana2 offers services to
brokers, fund managers, portals, media companies and private investors.
Iguana2's clients include some of Australia and New Zealand's largest
stockbrokers and companies, including TD Waterhouse, Telstra, Macquarie
Bank, AMP, Telecom NZ, Access Brokerage and the Bank of New Zealand.

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