Sharechat Logo

Montana tapes handed over

Friday 20th April 2001

Text too small?
Lion Nathan's broker, Credit Suisse First Boston, has handed over to the committee of inquiry tapes and transcripts of conversations between its dealers and institutional shareholders in Montana.

The Stock Exchange-appointed committee is investigating claims by Montana that Lion breached listing rules when it launched an overnight raid on Montana on the night of February 8.

Committee spokesman David Quigg said the bulk of the tapes had been received and the legal teams representing Montana and Allied Domecq, which was beaten to the draw by Lion, could have access as soon as they signed confidentiality agreements.

The interested parties will meet the committee in Auckland next Friday. A timetable has been put in place for submissions and a hearing will be held on May 5 and 6.

The committee will determine whether CSFB and Lion bought Montana shares before midnight on February 8, in breach of the terms of a waiver granted by the exchange's market surveillance panel.

If so, Lion can be ordered to sell its Montana shares, or Montana can sell the shares to another party.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Spark announces Director changes as part of Board renewal
July 28th Morning Report
KMD Brands announces new Group Chief Financial Officer
Commerce Commission to issue SOI re Viridian application
FBU - Moody's affirms FBU Baa3/stable rating
Contact Energy FY25 Financial Results Presentation
NZX Chief Executive Mark Peterson to depart in April 2026
BRW - Expansion of Napier Production in Post-Cyclone Rebuild
July 24th Morning Report
Air New Zealand 2025 Annual Results Webcast Details