L.S.E. probe
NZPA London The London Stock Ex-change-has ordered an investigation into recent dealings in the shares of Consolidated Gold Fields of the United Kingdom to see if sharemarket regulations needed to be changed. The exchange chairman (Mr Nicholas Goodison) said the investigation should enable the stock exchange to see if any action could be taken to ensure swifter registration of share purchases. The inquiry would also help the exchange decide if codes of practices to ensure a fair market for shares
needed to be amended, he said. The exchange move comes after confirmation last week by the world’s biggest gold mining group, Anglo-Ameri-can of South Africa, that it had secretly bought a major stake in Consolidated Gold, its main rival. An Anglo-American statement said it and an associate company held 25 per cent of Consolidated Gold’s shares after months of secret buying. The purchases are believed to have cost about SNZ3S2 million. Anglo-American is headed by Mr Harry Oppenheimer, one of the richest men in the world.
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Press, 21 February 1980, Page 18
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168L.S.E. probe Press, 21 February 1980, Page 18
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