Mercury Energy Ltd v Utilicorp NZ Ltd - [1997] 1 NZLR 492

Company law — Takeovers — Competing offers for shares to shareholder in target company — Put option — Right of first refusal — Application for remedies under Securities Amendment Act 1988 — Allegations of breach of Act for non- disclosure of put option and right of first refusal — Whether put option and right of first refusal an interest in shares under the Act — Applicable considerations as to relevant penalty — Securities Amendment Act 1988, ss 4, 5, 21, 22, 30 and 32 — Securities (Substantial Security Holders) Regulations 1989 (SR 1989/162) — Energy Companies Act 1992.