Fletcher Challenge Comments on the
Securities Commission Report on Insider Trading
AUCKLAND, 6 June 2000 – The New Zealand Securities Commission finding that the former Fletcher Challenge Chairman Kerry
Hoggard clearly breached an important law reinforced the Board’s decision to accept his resignation, the Chairman of the
Company, Dr Roderick Deane said today. The Securities Commission made the finding in its just released report into
dealing in Fletcher Challenge shares by Mr Hoggard in December 1999.
Dr Deane added that Fletcher Challenge will not be taking any action against Mr Hoggard as it was quite clear from the
Securities Commission Report that he had offered compensation to shareholders who had suffered loss.
ENDS