Mainstay holding talks
One of the most interesting events on the New Zealand sharemarket yesterday was the sale by Brierley Investments, Ltd, of 900,000 ordinary shares in MainstayProperties, Ltd, the Christchurch property investor. The private transaction representing 8.25 per cent of the ordinary capital, was at 62c a share, which was the closing price of the shares on Friday. Yesterday the shares fell 5c to 57c, in spite of an announcement by Mainstay’s chairman, Sir Ronald Scott, that discussions were under way with parties who have mutual interests in the developments of Mainstay Properties.
Sir Ronald said that a full statement would be made when negotiations had been completed.
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Press, 12 March 1985, Page 26
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109Mainstay holding talks Press, 12 March 1985, Page 26
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