Landmark makes placement
The chairman of Landmark Properties, Ltd, Sir George Chapman, has announced that the company has placed 2M ordinary 25c shares at a premium of 30c, making a placement price of 55c per share. The placement is with a number of leading financial institutions.
Sir George says it will strengthen the company’s capital structure and provide a base for continued expansion. He says that applications are already being received from shareholders for the 15
per cent specified preference shares at 25c per share and the share options, which wil cost a total of 40c per share on conversion.
Although the issues do not close until the middle of next month, indications are that both issues will be heavily oversubscribed at closing date, he adds.
The directors have decided that distribution of specified preference shares and share options in excess of entitlements will be pro rata to shares held at the time that the share register was closed.
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Press, 27 August 1983, Page 23
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159Landmark makes placement Press, 27 August 1983, Page 23
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