Trade expert joins up as sleepy Anzon stirs

By PAULA OLIVER

The latest attempt to revive 1980s high flyer Anzon Investments has gathered pace with the confirmation of former Trade New Zealand chairman Joe Pope as a director.

Mr Pope was a long-time chief executive of the Apple and Pear Board and chairs the Wellington Hurricanes rugby franchise.

Anzon Energy last week unveiled a plan to resurrect the Anzon name as an oil and gas production company. Led by a group of Australians, Anzon Energy wants to use the dormant shell of Anzon Investments - and its 3300 shareholders - to list quickly and cheaply, hopefully by September.

Mr Pope said he agreed to be involved because it was a "tremendously exciting venture."



Anzon Investments is remembered by many for the collapse of major shareholder Chase Corporation in the 1987 sharemarket crash.

Since being delisted in 1990 the clean shell has been the target of several unsuccessful resurrection attempts, leaving shareholders wary of the latest offer.

Mr Pope said he totally understood their scepticism. They deserved to get something after waiting 10 years.

To meet listing requirements Anzon will need two directors ordinarily resident in this country. Mr Pope will fill one seat but the other director cannot yet be confirmed. An Anzon spokesman discounted a claim that long-time Anzon Investments director Ken McNamara would take the other local seat.

A market analyst said the appointment of Mr Pope gave him more hope that this resurrection of Anzon might actually go ahead.