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delisted following the takeover by HIH Investment Holdings Limited - we understand HIH was successful with an offer for FAI of either one HIH share for three FAI shares, or one HIH share plus A$2.25 cash for six FAI shares - some shareholders have asked about the cost they were deemed to have paid for shares in HIH when they opted to accept the full scrip offer by HIH for their shares in FAI Insurances Limited - we understand shareholder acceptances became legally binding contracts on 17 December 1998 and the closing price on that day was A$2.18 per share - it may however be the case, that if the shareholder submitted their acceptance at a later date, the market value of an HIH share on that day should apply - shareholders should seek their own independent advice on this issue
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12/02/1999
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