----- Original Message -----
Sent: Wednesday, May 09, 2001 8:31
PM
Subject: Re: Re: Re:
[sharechat]Infratil
-
- Subject: Re: Re: [sharechat]Infratil
- From: "ryanrite" <ryanrite@xtra.co.nz>
- Date: Sat, 5 May 2001 16:37:01 +1200
Interesting story in the Bay of Plenty Times 5/5/01 about Contact (CEN)
looking to buy Trust Power (major sharesholders to be approached)before 1st
July 01
The winners here would be IFT (infratil) 25.8%
Australian Gas Light 20.5%
Alliant international 17.3%
Will IFT shares price move up with their DIV to be announced soon?
Things are going to happen before 1st July 01
(first fbu now cen who will be next)?
I have IFT
NRT
REL: 1415 HRS TrustPower Limited
NRT:
TPW: ALLIANT INT. - NOTICE & PAUSE NOTIFICATION
Extract from
announcement received:
Alliant International NZ on behalf of itself and
Utility Investments ("UIL")
have provided a Notice and Pause Notification
as follows:
1. Terms defined in the Rules have the same meaning when used
in this notice.
2. Alliant and UIL are duly incorporated companies
having their registered
offices in Auckland. Alliant and UIL are
associated persons for the purposes
of the Rules.
3. Alliant is also an
associated person with Infrastructure & Utilities NZ
("Infratil") by
virtue of certain arrangements entered into between them.
4. Alliant and
UIL and Infratil and its subsidiaries hold in aggregate in
excess of 20% of
the Quoted Equity Securities of TrustPower.
5. In this notice Alliant and
UIL are referred to individually and
collectively as the
"Transferee". References to Infratil are deemed to be
references to
Infratil and its subsidiaries.
6. The Transferee intends to purchase and
will seek to register the transfer
of certain Equity securities of
TrustPower. Certain of the proposed
Transfers will be Restricted
Transfers. Each Restricted Transfer will relate
to ordinary shares
and / or convertible notes of TrustPower; The number of
equity
securities to be transferred will be up to 41,499,120 ordinary shares
and /
or up to 14,975,000 convertible notes representing up to 20.93% of
the
total Equity securities of TrustPower at the date of this notice.
In
addition to the Transferee: (I) Infratil may acquire a relevant
interest in
Equity Securities transferred to the Transferee by virtue of
the arrangements
between Infratil and Alliant referred to in para 3 above
(but subject to the
terms thereof); and (ii) The Australian Gas Light
Company and certain of its
subsidiaries may acquire a relevant interest in
Equity securities transferred
to the Transferee by virtue of the terms of
the Standstill and Equalisation
Agreement dated 07/12/1999 (but subject to
the terms thereof). The transfers
are intended to occur between
31/05/2001 and 5pm 31/07/2001. Each transfer
will occur through the
NZSE's order matching market, by off market
transaction arranged by a
broker acting on behalf of the vendor client, by
private treaty, by
widespread offer or otherwise. The price range for any
Equity
Securities the subject of any Transfer referred to in this notice will
be
between $3.20 and $3.60 per Equity Security. There will be not
conditions
material to an assessment of price.
End CA:00066815
For:TPW Type:NRT
Time:2001-05-09:14:15:42 Encrypt
Interesting developments in the Electricity
Market
First - Edison about to up their stake between 2.90 -
3.25
Second - Article reader noticed indicating CEN may make a
play for TPW
Thirdly - Todays announcements on
TPW/Alliant/IFT
What does it mean?
It looks like Alliant is preparing itself to fight CEN (and
or others) for TPW?
What will IFT do with their stake?
Also, isn't it odd that CEN price hasn't moved up - hardly
leikely Edison would bid at the lower end of the range
Looks like there may be some action to come.
What do others think?
See IRG research reports
