Brierley seeks broader base
Brierley Investments, Ltd, is to seek shareholder approval to broaden its overseas equity base by placing up to 20M shares ana making a SNZB2M convertible issue in Swiss francs to overseas residents.
Resolutions to this effect will be put to the annual meeting in Christchurch on November 28.
The chief executive of BIL, Mr Bruce Hancox, said that the move followed a study over the last 12 months of future funding needs and the options available. This resulted in a visit to Europe in July by BlL’s finance director, Mr
Paul Collins. Funds raised in this way were designed to complement the recently announced, and traditional, rights issue for New Zealand shareholders. The issues, the first made by the company, would provide greater marketability for BIL shares and would benefit existing New Zealand shareholders. Should shareholder approval be received, BIL would make an Australian placement of shares through Ord Minnett, the broking firm handling BlL’s Australian listing. The eight-year convertible bond issue of 100 M Swiss francs is planned for early 1986. The issue will be managed by Lloyds Bank International, Ltd, and be oriented mainly to European investors.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19851025.2.83.2
Bibliographic details
Press, 25 October 1985, Page 8
Word Count
193Brierley seeks broader base Press, 25 October 1985, Page 8
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in