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19 June 1987

News release

Terms of Reference for an Inquiry into dealings in the Issued Securities of Kupe Investments Limited and Kupe Group Limited

Pursuant to section 10, Securities Act 1978, the Securities Commission has decided to undertake a public inquiry into dealings in the issued securities ("securities") of -

1. Kupe Investments Limited, for the period 1 June 1986 to 6 January 1987; and
2. Kupe Group Limited, for the period 1 June 1986 to 18 June 1987.

And for this purpose has decided to obtain evidence in relation to the following matters:-

1. Sales and purchases of any securities or of interests, direct or indirect, in any securities;
2. The parties to any sales and purchases;
3. The terms of all offers made for the sale or purchase of any securities or of interests, direct or indirect, in any securities;
4. The terms of all contracts for the sale or purchase of any securities or of any interests, direct or indirect, in any securities;
5. The extent to which the information as communicated to the New Zealand Stock Exchange ensured that the market was properly informed as to the terms of the above sales, purchases and contracts;
6. The extent to which the rules and regulations of the New Zealand Stock Exchange are adequate to ensure that the market is properly informed as to the terms of sales, purchases and contracts as above;
7. The extent to which any listed public company which bought or sold securities or entered into any contract for the sale or purchase of any interest, direct or indirect, in any securities reported to its shareholders as to the benefit to it of the sale, purchase, or contract;
8. Any other matters relevant to the review of any practice relating to securities.