Gas take-over accepted
The take-over offer for shares in the Christchurch Gas, Coal and Coke Company, Ltd, by Welgas Holdings, Ltd, of Wellington has been declared unconditional. According to a statement to the Stock Exchange Association of New Zealand yesterday. Welgas (formerly the Wellington Gas Company), had received 72.3 per cent acceptances of its offer by Wednesday. The offer was for a straight exchange of one 100 c Welgas share for each 100 c
Christchurch Gas share. The offer was declared unconditional after consent had been given by the Examiner of Commercial Practices (Mr D. S. Monaghan). The Christchurch Gas directors unanimously recommend acceptance of the Welgas offer, and say that they will be accepting for their own holdings. Before the offer, Brierley Investments, Ltd, held 41.9 per cent of the capital in Christchurch Gas and 24.9 per cent of the capital of Welgas. .
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Press, 26 August 1982, Page 22
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144Gas take-over accepted Press, 26 August 1982, Page 22
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