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WILSON NEILL LIMITED (WNE)

Delisted NZX 20/12/1996

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delisted after the Market Surveillance Panel decided that the trading and quotation of the shares be suspended - this followed action by Leucadia National Corporation (USA) based on a right granted to it by the High Court in July 1996 to pursue winding up proceedings of Wilson Neill - we understand Wilson Neill was placed in liquidation by US-based Leucadia National Corporation over a $NZ14.2 million loan guarantee for a San Diego property - Wilson Neill had a subsidiary called Saudi Corporation, which was permitted to continue trading and its name was changed to Wilson Neill Corporation - the 12,675 shareholders in Wilson Neill at the time were also issued with new scrip in the new Wilson Neill Corporation - the latter company's shares traded on the unlisted securities market (not on the NZSE to our knowledge) and it was placed in liquidation on 4 April 200220/12/1996

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