CPD head happy with share sale
PA Wellington The chairman of Cable Price Downer, Ltd, Mr Bill Steele, said last evening be knew the buyer and the seller of a 300,000 parcel of his company’s shares yesterday and was “very comfortable with the transaction.” He expressed concern that the intense interest in his company shares was doing nothing but pushing the share price up. Meanwhile, a Chase Corporation director, Mr Peter Francis, confirmed last evening that the ChaseEquiticorp Holdings joint venture, Jedi Investments, was the buyer last week of
a parcel of 1,059,000 shares in CPD. “We think they’re a good long-term investment,” he said. He denied the company had invested in CPD for a quick profit turn. Jedi bought last week’s shares through Auckland brokers, Morrow and Benjamin. Morrow and Benjamin said at the time that its buyer was expected to continue purchases. Mr Francis said Jedi envisaged no direct tie-up between its development interests and those of CPD. He also said it was not actively seeking CPD shares.
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Press, 12 June 1984, Page 32
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170CPD head happy with share sale Press, 12 June 1984, Page 32
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