Bramco buyer obtains 74 p.c.
Smart and Smart Developments, Ltd, of Auckland, was yesterday revealed as the mystery buyer of shares in Bramco Properties, Ltd, the Hastings-based property investment company.
The Bramco directors made a statement to the stock exchange welcoming the 74 per cent shareholding acquired by Smart and Smart with on-market purchasing through the Auckland broker, Morrow and Benjamin. The Bramco directors said they were confident the other company would “provide expertise and resources which will materially assist
the company in profitable future expansioiis." Bramco shares sold this week at prices ranging between 63c and 75c. Morrow and Benjamin told the exchange yesterday they had completed their instruction to purchase 74 per cent of Bramco.
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Press, 3 November 1984, Page 23
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117Bramco buyer obtains 74 p.c. Press, 3 November 1984, Page 23
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