30 June 2002
Kiwi Income Property Trust unitholders have been sent the investment statement & letter of entitlement & acceptance form for the $71.3 million 1:6 renounceable rights issue, priced at 82c.
Foodland Associated Ltd has repaid the vendor finance advanced in connection with the acquisition of Woolworths (NZ) Ltd’s holding company, Denstree Corp Ltd. FAL refinanced through an institutional placement & institutional pro-rata priority non-renounceable rights issue.
Air New Zealand’s group revenue passenger kilometres (rpks) fell 10.1% in May on a 10.6% capacity cut. Passenger traffic from the Tasman & Pacific routes fell slightly, partly offset by increased traffic from Japan and other Asian routes. The load factor increased by 1 percentage point. The comparison with May 2001 is complicated because Qantas NZ planes were grounded in late April 2001 as that company was placed in liquidation. May 2001 operating statistics include significant domestic capacity and rpk growth due to the collapse of Qantas NZ. For the May 2002 financial year, rpks fell 4.1%, capacity 4.8%. This kept the load factor constant at 72%.
29 June 2002
Fletcher Building Ltd will gain full listing on the Australian Stock Exchange from Monday 1 July. It’s been listed in Australia as a foreign exempt company. Fletcher Challenge Forests Ltd will also get full listing.
Fletcher Challenge Forests Ltd said a memorandum on the proposed acquisition of the Central North Island Forest Partnership assets would go to shareholders in mid-July and a shareholder meeting would be held in mid-August.