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Energy Developments Announcement

  1. munch

    3,567 posts.
    What does everyone think of this announcement... looks like the major shareholder is selling their preference shares... All responses welcome

    ASX Code: ENE
    Announcement: Announcement of Buy-Back

    Date: 25 July 2002 - 17:55:03
    Market Sensitive: Yes

    ENERGY DEVELOPMENTS LIMITED 2002-07-25 ASX-SIGNAL-G

    HOMEX - Brisbane

    +++++++++++++++++++++++++
    APPENDIX 3C
    ANNOUNCEMENT OF BUY-BACK
    (EXCEPT MINIMUM HOLDING BUY-BACK)

    Name of Entity
    Energy Developments Limited

    ABN
    053 410 263

    We (the entity) give ASX the following information.


    INFORMATION ABOUT BUY-BACK

    1. Type of buy-back Selective (off market)

    2. Class of shares which is Preference shares
    subject of the buy back
    (eg, ordinary/preference)

    3. Voting rights Voting rights in certain limited
    (eg, one for one) circumstances as provided in
    article 4A of the Company's
    contitution

    4. Fully paid/partly paid (and Fully paid
    if partly paid, details of
    how much has been paid and
    how much is outstanding)

    5. Number of shares in the 16,800,000
    class on issue


    6. Whether shareholder approval Shareholder approval was obtained
    is required for buy-back on 16/09/1997

    7. Reason for buy-back Pursuant to transfer notice given
    by the holder NRG Victoria III Pty
    Ltd under share subscription
    agreement entered into between
    holder and the Company on
    06/02/1997 & amended on 04/08/1997

    8. Any other information Buy-back initiated by holder
    material to a shareholder's under the terms of share
    decision whether to accept subscription agreement
    the offer (eg, details of
    any proposed take-over offer
    or announcement)

    ON-MARKET BUY-BACK

    Items 9 to 13 are Not Applicable


    EMPLOYEE SHARE SCHEME BUY-BACK

    Items 14 to 15 are Not Applicable


    SELECTIVE BUY-BACK



    16.Name of person or description NRG Victoria III Pty Ltd
    of class of person whose
    shares are proposed to be
    bought back

    17.Number of shares proposed 16,800,000
    to be bought back

    18.Price to be offered for $1.80 per share
    shares


    EQUAL ACCESS SCHEME

    Items 19 to 22 are Not Applicable


    COMPLIANCE STATEMENT

    1. The company is in compliance with all Corporations Law requirements
    relevant to this buy-back.

    2. There is no information that the listing rules require to be
    disclosed that has not already been disclosed, or is not contained
    in, or attached to, this form.

    R Byrne
    DIRECTOR/COMPANY SECRETARY
    25/07/2002

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