By Nicholas Bryant
Thursday 20th April 2000 |
Text too small? |
Commission chairman Euan Abernathy said he expected to make an announcement about a range of inquiries within the next two weeks.
The commission's investigations began after Fletcher Challenge chairman Mr Hoggard was forced to resign late last year over a substantial purchase of the company's stocks one day before a major company announcement.
The announcement was Fletcher Challenge would unbundle its much-criticised letter stock structure; news which pleased the market and made a $58,000 profit for Mr Hoggard.
Earlier this month, his profits were paid back to Fletcher Challenge shareholders.
But Mr Abernathy said the commission's inquiries had been more wide-reaching than just covering the days surrounding Mr Hoggard's buy.
He said trades well before and after Mr Hoggard's purchase had been looked at.
Mr Hoggard's buy request was carried out by broking house JB Were & Son.
The firm maintained it did nothing wrong.
No comments yet
Kiwi Property FY24 annual results announcement date
MFB - FY24 Results Announcement Date and Briefing Details
AIA - Announces books closed for retail bond offer
May 8th Morning Report
NZ-UAE free trade on the table
ANZ - 2024 Half Year Results Documents
FWL - Foley Wines Limited 2024 Harvest
IKE Closes Major Multi-Year Subscription Deals
AIA - 2024 Macquarie Australia Conference Overview of AIA
Devon Funds Morning Note - 06 May 2024