Rothmans buys land for development
ijPA Auckland 11 J i j ! Rothmans Industries,< >1 Limited has allotted 455,000! [jsoc shares at a premium of 1 ;70c a share, to increase to 75 ji •|per cent its ownership of|] ’ Kenwood Properties, Ltd. , Kenwood Properties owns I, more than 400 ha on the Mat- 1 arangi Peninsula, north of,] Whitianga, which is zoned forb coastal resort development. |] The company’s develop-;, i ment scheme is included in; 1 j the Thames-Coromandel Dist-I 1 jirict Council’s district scheme! : 'and planning is underway for i
la second residential sub-divi- I i sion, which is expected to be 1 i completed by the end of 1980. ' I Arrangements are also ' being made to intensify farm- j png wihin those areas of the . 'peninsula not required im- . mediately for residential development. In a separate tranaction. iRothmans has also acquired, I > , for cash, control of Matarangi | > Farm Developments, Ltd. . 'which is the owner of the; (only other land on the penin-, j suia, which will be included !| in the development.
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Press, 11 October 1979, Page 28
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172Rothmans buys land for development Press, 11 October 1979, Page 28
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