8 October 2004
NZX Announcement Powerco Takeover – Acceptance by Majority Shareholders
Prime Infrastructure Networks (New Zealand) Limited (“PINNZ”) today announced that it has received from the New
Plymouth District Council, Taranaki Electricity Trust Incorporated and Powerco Wanganui Trust Incorporated (“Majority
Shareholders”) notice of acceptance under its takeover offer for Powerco Limited.
Each of the Majority Shareholders has a registered address on the Powerco Limited share register that is in New Zealand
and has elected to receive its consideration in the form of the Combination Option under the Takeover Offer. The
Majority Shareholders’ acceptances under the Takeover Offer represent acceptances in respect of 53.65% of the Powerco
Limited shares on issue.
A substantial security holder notice will shortly be filed by PINNZ in relation to the PINNZ interest in these shares in
Powerco Limited. For further information please contact: Michael Ryan Company Secretary
ENDS