NEWS IN BRIEF
Share redemption Crothall and Company, Ltd, is to redeem 1500 of its 200 c redeemable preference shares so that the number of shares on issue will stand at 7500, and a transfer to the capital redemption reserve fund of $3OOO will be made. Totara Park bids Land and Building Systems, Ltd, has made an offer of 240 c for each fully paid share of Totara Park Development, Ltd, after the directors of M.S.D.-Speirs have already declared their offer of 110 c for contributing shares unconditional after receiving acceptances in respect of 65.7 per cent of the paidup capital. Land and Buildings, initially a small shareholder in Totara Park, opened their bidding with an offer of 110 c for each contributing
share and 160 c for each fully paid share. Both offers were subsequently raised sc. The revised offer for contributing shares is 120 c. Bovis bid lapses The British shipping group, P and O, has formally announced that its original £l4Bm (about s3oom) bid for the Bovis building group has been dropped. A spokesman commented that the offer was being allowed to lapse, and that “the board are still considering the proposed new terms which have been put forward by Bovis.”
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Bibliographic details
Press, Volume CXII, Issue 33050, 18 October 1972, Page 26
Word Count
204NEWS IN BRIEF Press, Volume CXII, Issue 33050, 18 October 1972, Page 26
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