Aardvark Daily
OzEmail buyout of Voyager stalled
Copyright © 1997 to Bruce Simpson
ASB Bank
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16 Sept 1997

Preliminary Report
It appears that there's been a bit of a hiccup in the OzEmail's purchase of Voyager shares previously held by John O'Hara and Alistair Stevens.

O'Hara and Stevens, previously under contract to Voyager exercised their put options at the end of their contracts and according to O'Hara, a share-price valuation was performed by Deloitte Touche Tohmatsu. Payment for the shares was due by 4th of September, however, O'Hara says that no payment has been forthcoming.

It is understood that O'Hara and Stevens have instigated legal action against OzEmail with a hearing due in the Auckland High Court on 16th October.

Aardvark will seek comment from OzEmail today and hopes to bring you the full story tomorrow.

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