No. 99 2519

SUPPLEMENT
TO THE
NEW ZEALAND GAZETTE
OF
THURSDAY, 21 AUGUST 1980
Published by Authority

WELLINGTON: MONDAY, 25 AUGUST 1980

IN the matter of the Commerce Act 1975, section 81H, and
in the matter of a proposed takeover by Fletcher Holdings
Limited (Fletcher), of Carter Holt Holdings Limited
(Carter Holt):

WHEREAS Carter Holt Holdings Limited, the Oji Paper Com-
pany Limited, Odlins Limited, N.Z. Forest Products Limited,
and Lynn Robert Young (hereinafter together called the
applicants), under date the 12th day of May 1980, made
application to the Commerce Commission pursuant to section
81H of the Commerce Act 1975, for renewal with certain
amendments of certain orders made by the Commission on
the 24th day of April 1980, which orders were published in
Supplementary Gazette, No. 48, on Monday, 28 April 1980;

And whereas the applicants and Fletcher having appeared
before it and been heard on the said application, the Com-
mission made certain orders on the 23rd day of May 1980,
which orders were published in Supplementary Gazette, No.
59, on Monday, 26 May 1980;

And whereas the Commission, upon applications by the
applicants, renewed the said orders—

(a) Under date the 24th day of June 1980, and published
notice of such renewal in the New Zealand Gazette,
No. 69, dated 26 June 1980;

(b) Under date the 23rd day of July 1980, and published
notice of such renewal in Supplementary Gazette,
No. 86, dated 25 July 1980;

And whereas the applicants, under date the 18th day of
August 1980, have made application to the Commission for
further renewal of the said orders made by the Commission
on the 23rd day of May 1980;

And whereas it appears to the Commission that the reasons
which led it to make the said orders are still valid;

Now therefore, the Commission, pursuant to section 81H
(2), hereby again renews the said orders made by it on the
23rd day of May 1980.

For comprehensiveness of this notice the orders which are
hereby renewed are repeated hereunder:

(a) That Fletcher, its servants or agents, be restrained from
serving or causing to be served on Carter Holt
any further notice of a takeover offer for the acquisi-
tion of shares in Carter Holt, and furthermore that
such persons (whether acting jointly or in concert)
be restrained from issuing or dispatching (whether
orally or in writing and whether directly or in-
directly) to any shareholders in Carter Holt any
offer to acquire shares in such company;

(b) That Fletcher, its servants or agents, be restrained from
entering into completing or perfecting any agreement
(conditional or otherwise) to purchase any shares
in the capital of Carter Holt or from otherwise
acquiring a beneficial interest in shares of such
company;

(c) That Fletcher, New Zealand United Corporation Limited,
and Customhouse Holdings Limited, their servants, or
agents, or nominees, be restrained from submitting
to Carter Holt for registration any transfers of
shares to Fletcher, New Zealand United Corporation
Limited, Customhouse Holdings Limited, or their
servants, agents, or nominees, or to any person acting
jointly or in concert therewith;

(d) That any shareholder in Carter Holt (including New
Zealand United Corporation Limited and Custom-
house Holdings Limited), who has agreed to sell
their shares to Fletcher, its agents, servants, or
nominees, or any person acting jointly or in concert
therewith, be restrained from executing or otherwise
procuring the execution of any transfer of shares in
Carter Holt;

(e) That Fletcher be restrained from engaging in any
course of conduct, or doing any act or thing that
constitutes or would constitute an offence under
section 81F of the Act, or an offence of attempting
to commit or aid or abet counsel or procure any
person to commit an offence under section 81F of
the Act;

(f) That Fletcher, its servants or agents or nominees or
any parties (including New Zealand United Corpora-
tion Limited, Customhouse Holdings Limited), acting
jointly or in concert therewith, be restrained from
exercising in any manner howsoever the control of
25 percent or more of the voting power attaching
to the shares of Carter Holt in respect of which
Fletcher has a beneficial interest, or otherwise
exercising any right or control over 25 percent or
more of such shares.

Dated at Wellington this 20th day of August 1980.

The Seal of the Commerce Commission was attached hereto
in the presence of:

K. B. O’BRIEN, Chairman.

Price 20c
BY AUTHORITY: P. D. HASSELBERG, GOVERNMENT PRINTER, WELLINGTON, NEW ZEALAND—1980