COMMERCIAL Brierley has 25p.c. of A.B. Consol.

Press, Volume CXVI, Issue 34152, 13 May 1976, Page 20

COMMERCIAL Brierley has 25p.c. of A.B. Consol.

Brierley Investments. Ltd, has about 1,340,000 shares or about 25 per cent of the issued capital of A.B. Consolidated, Ltd.

Brierley Investments does I not intend to make an offer) for the remaining shares in: A B. Consolidated, and no further purchases are planned at present ji Purchases of A. B. Consol-i idated shares by Brierley In-. : vestments over the last!; seven days enabled the com-: pany to raise its holdings in the Christchurch company toil its present level, a director:, of Brierley Investments (Mrli B. Judge) said yesterday. ■ A. B. Consolidated wasp very interested to learn of; the Brierley Investment; shareholding the chairman! (Mr C. W. Mace) said. | In view of the major changes in the ownership of I the shareholding the directjors of A. B. Consolidated ■ looked forward to working (with the company’s new ! owners, and welcomed them, Mr Mace said. I The results of the com- 1 pany's trading since his last ; report confirm that the! 'profit improvement in the!, [last six months of the year!, 'to March 31. has been main-;, ‘tained, Mr Mace said. The directors of A. S. Pa-i jterson and Company, Ltd,-;; _____. _

I are meeting today to con-J |sider the company’s position; in the light of the Brierley; Investment report, and no, ; statement would be made; until the board had met. Chase-N.B.A. (N.Z.), Group,: .Ltd, still thought that it was: ‘possible for A. S. Paterson! ‘to obtain 25 per cent of thej capital of A. B. Consoli-j dated, the merchant bank’s; ‘general manager! Mr T. E.j C. Saunders) said. The first-come, first-served;

offer of 50c a share by A. S.ij Paterson closes on May 18,', ;by which time the company!) >.hopes to have the 25 perj ■ cent of the capital of A. B. s ‘Consolidated, needed for the!' ■ offer to be declared uncon-1 Jditional by June 25. 11 If A. S. Paterson does not J Jobtain acceptances for 25;’ ‘per cent of the capital of A. L ■ B. Consolidated, by May 18,1 Jas the offer now stands, the!t ■ shares that it has accept-;! I lances for will remain theft property of the present; < owners. I: A. S. Paterson may set a: later date than May 18 by it which acceptances must be i given, or it may withdraw;! the present offer/or make a - new offer. ‘i The alternatives open to; . them will be examined by it : the directors of A. S. Pater-11 j son at their meeting today, Ii