CodeWord Issue 10 - September 2003

In this issue

Independent Advisers – Lowe Corporation and Rule 20

On 9 October 2002 Lowe Corporation Limited (Lowe) made a full takeover offer under the Code for all the shares in Blue Sky Meats (N.Z.) Limited (Blue ...

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Buyback Class Exemption – TrustPower

In March 2003 TrustPower Limited (TrustPower), an electricity generating and retail company based in Tauranga, made a pro-rata buyback offer to purcha...

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Rule 6(2) – Associates – Designer Textiles and Gould Holdings

Rule 6(2) has provisions designed to ensure that the fundamental rule is not defeated by the manner in which company shareholdings are structured.

De...

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Associates – Aggregation of Holdings – Designer Textiles and Rutherford Family

The question of association between the Rutherford family and Mr Gould did arise in connection with various acquisitions of shares in DTL itself by me...

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Initial Public Offering – Jade Exemption

The IPO class exemption (clause 7, Takeovers Code (Class Exemptions) Notice (No 2) 2001) relates to voting rights obtained through initial public offe...

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Underwriting – GPG and Tower

In July 2003 Tower Limited (Tower), a Code company, was undertaking a recapitalisation through making a large pro rata rights offer to existing shareh...

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Defensive Tactics – Toll and Tranz Rail

The Panel dealt with two issues involving alleged or possible defensive tactics being used by the directors of Tranz Rail Holdings Limited (Tranz Rail...

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