The balance sheet reconstruction is designed to provide ERG with a stronger net asset position and eliminate cash outflow in the form of interest payment on the notes. -- Anonymous

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Subject: The balance sheet reconstruction is designed to provide ERG with a stronger net asset position and eliminate cash outflow in the form of interest payment on the notes.

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The proposal was foreshadowed at the Company's Annual General Meeting (AGM) in November 2002.
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Date Posted: Thursday, March 06, 01:36:05am
In reply to: 6/3/2003 's message, "2003 Half Year Review" on Thursday, March 06, 01:17:03am

The balance sheet reconstruction is designed to provide ERG with a stronger net asset position and eliminate cash outflow in the form of interest payment on the notes. The proposal was foreshadowed at the Company's Annual General Meeting (AGM) in November 2002.

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ERG incurred an overall operating loss totalling $124.9 million for the half-year to 31 December 2002, compared to $199.4 million in the previous corresponding period.ERG recorded an EBITDA loss of $19.6 million (compared to a loss of $17.0 million in the previous year), before one-off write-downs and significant items representing the initial benefits of the aggressive cost-cutting program initiated last year. Thursday, March 06, 01:50:13am

Subject	Author	Date
ERG incurred an overall operating loss totalling $124.9 million for the half-year to 31 December 2002, compared to $199.4 million in the previous corresponding period.ERG recorded an EBITDA loss of $19.6 million (compared to a loss of $17.0 million in the previous year), before one-off write-downs and significant items	representing the initial benefits of the aggressive cost-cutting program initiated last year.	Thursday, March 06, 01:50:13am