Share Exchange Explained
(N.Z. Press Association) WELLINGTON, February 24. The commercial manager of the Tasman Pulp and Paper Company, Ltd., Mr G. J. Schmitt, in a telephone interview tonight, made it dear that the 2,000,000 share exchange with Australian Newsprint Mills Holdings, Ltd., was on a one-for-one basis.
ANM. would issue 2,000,000 shares to Tasman at 33s 9d (Aust.) each and Tasman would issue 2,000,000 shares to A.N.M. at 27s (N.Z.) each, he said. The sum of 33s 9d ip Australian currency was equivalent to 27s in New Zealand currency.
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Bibliographic details
Press, Volume CII, Issue 30066, 26 February 1963, Page 19
Word Count
90Share Exchange Explained Press, Volume CII, Issue 30066, 26 February 1963, Page 19
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