Rubicon’s Special Shareholders’ Meeting Date Set
Monday 5 August, 2002. Rubicon announced today that its Special Shareholders’ Meeting to approve the sale of most of its
Fletcher Challenge Forests (FCF) shareholding and the acquisition of the Tahorakuri forest estate from FCF has been set
down for Tuesday 27th August 2002. Shareholder documentation is to be posted to shareholders later this week.
Commenting on Guinness Peat Group’s (GPG) advice to the Company this morning that it would not be voting in favour of
the Rubicon transactions, the Chairman of Rubicon, Mr Michael Andrews, said, “Under our agreements with FCF, Rubicon has
already undertaken to vote its FCF shares in favour of these transactions, and also to use reasonable endeavours to
complete them. We will be fulfilling our obligations.
While we respect GPG’s decision to vote against the proposals, and also the dissenting views of Mr Tony Gibbs and Dr
Gary Weiss on the Rubicon Board, nothing has come to the Company’s attention that would change its view, that, there is
no better deal likely for Rubicon shareholders than that contained in the conditional agreements that were announced to
the NZSE on 17th June this year,” he said.
Mr Andrews added that the Deloitte Corporate Finance independent report on the transactions, which will be released to
shareholders as part of the documentation to be sent this week, concludes that “the consideration offered by FFS and
SEAWI and the terms and conditions of the Transactions are fair to Rubicon’s shareholders.”
END