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ELECTRA INVESTMENT TRUST (EIT)

Delisted NZX 30/07/1999

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delisted following the approval of proposals by shareholders - we understand the Trust thwarted a hostile bid by rival investment trust 3i Group Plc when shareholders voted to support a buyback of their shares - Electra was to buy back 40% of its shares and liquidate the remainder of its assets over a five year period - the total number of shares tendered under the buyback was 111,687,133, accordingly 40% of the issued capital was repurchased in full and we understand the price was 786pps30/07/1999

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