+++++++++++++++++++++++++ The Directors advise that the Company has sold 1,850,000 shares in ARC Energy NL, realising a profit of $701,750, with total proceeds being $997,750. Hardman retains a holding of 7,475,000 shares, being 4.9%, in the issued capital of ARC.
Following sales earlier this month of ARC shares, the Company has realised a combined net profit of $2,969,747 in the current year from this investment.
A Notice of Ceasing to be a Substantial Holder is following.
K Davies COMPANY SECRETARY and CHIEF FINANCIAL OFFICER
FORM 605
NOTICE OF CEASING TO BE A SUBSTANTIAL HOLDER
Hardman Resources Ltd ceased to be a substantial shareholder in ARC Energy NL on 25/06/2002.
HDR Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
