GENERAL INTEREST / Fidelity picks Akita
Fidelity Purchases Akita Drilling Non Voting Class A Common Stock
BOSTON, Oct. 14 /CNW/ -- Fidelity Management & Research Company
(FMR) and Fidelity Management Trust Company (FMTC), 82 Devonshire Street,
Boston, Massachusetts, announced that certain open-end investment companies of
which FMR serves as investment manager and certain institutional accounts for
which FMTC serves as investment manager have in public transactions purchased
Akita Drilling Non Voting Class A common stock. The Non Voting Class A common
stock purchased, together with previously acquired shares, represents
10.00% of the issued shares of such class.
Fidelity fund and trust account purchases have been made for investment;
the Fidelity funds and trust accounts may, subject to market conditions, make
additional investments in or dispositions of securities of Akita Drilling in
the future, including additional purchases of the common stock. FMR and FMTC
do not, however, intend to acquire 20% of any class of the outstanding voting
or equity securities of Akita Drilling.
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For further information: Heather Whyte of Fidelity, 416-307-5338
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