NWL - ASX Company Announcement
5 December 2000
Part 1/1
--------
NEW TEL LIMITED
---------------
HOMEX - Perth
-------------------------
Response to ASX Query re Article in AFR 1/12/2000
RESPONSE TO ASX QUERY
Further to the facsimile from ASX dated 3 December 2000 requesting
the Company's comment on an article appearing in The Australian
Financial Review on Friday 1 December 2000 which states that the
Company is believed to be negotiating for the purchase of the
remaining assets of youth portal K*Grind, the Company advises as
follows:
The Company is currently undertaking assessment of the portal
technology assets of K*Grind for theor the purposes of negotiating to
acquire all or part of those assets. At present no agreement has been
reached and no decision made by New Tel to acquire any of those
assets.
The Company believes that the fact that it is considering a potential
acquisition of K*Grind's assets would not have a material affect on
the price of the Company's securities, and so does not warrant
disclosure to the market under Listing Rule 3.1.
If, however, an agreement is reached in connection with an
acquisition, and that agreement is approved by the Board of
Directors, then the Company proposes to make a full announcement to
the market of the details of the acquisition.
If you require any further information, please contact me directly on
9244 1166.
C Piercy
COMPANY SECRETARY
ASX QUERY
We refer to an article concerning New Tel Limited (the "Company")
appearing in The Australian Financial Review on Friday 1 December
2000 (copy attached).
Australian Stock Exchange Limited ("ASX") notes that the article
states that the Company is believed to be negotiating for the
purchase of the remaining assets of youth portal, K*Grind.
In the interests of maintaining a fully informed market, and to the
extent that it contains information concerning the Company which has
not been the subject of a previous announcement, ASX requests the
Company's comment on the article.
Please direct your response, in a format suitable for release to the
market, to the undersigned on facsimile 9221 2020, and not to the
Company Announcements Office. We would appreciate receiving your
response as soon as possible and in any event by no later than 5.30pm
WST on Monday 4 December 2000.
Should you have any queries on this letter, please do not hesitate to
contact the undersigned on 9224 0000.
John Moran
COMPANIES ADVISOR
A full copy of this announcement, including the newspaper article, is
available for purchase from ASX Customer Service on 1 300 300 279.
Charges apply.
ends
AI
