Jewelmark Int. plans float

Press, 4 December 1985, Page 42

Jewelmark Int. plans float

Jewelmark International, Ltd, the jewellery manufacturer, will be floated to the public, after registering a prospectus yesterday for an issue to the public of 25.4 million 25c shares at a premium of 25c each to raise a total of $12.7 million. Of the total shares to be issued 11M will be available for public subscription and 14.4 M shares will be subscribed for by the shareholders of the Italia Chain Company, Ltd, and Jewelmark Industries, Ltd. The shares are being privately placed by stockbrokers and by the manager of the issue, Investment Finance Corporation, Ltd. Jewelmark said immediate listing of the shares was not being sought, but this decision would be reviewed by the directors during 1986. The chairman of Jewelmark International is Mr B. H. Slane, a former president of the New Zealand Law Society, the present chairman of the Broadcasting Tribunal and deputy chairman of Countrywide Building Society. Joint managing directors

are Messrs R. L. Bosson and Mr T. E. C. Saunders, who were previously employed by the World Bank in Washington as financial analysts and then by Chase NBA (NJZ.) Group as assistant general manager and general manager respectively. For the past few years they have been major shareholders of Italia Chain Company and will be major shareholders in Jewelmark International. Mr G. G. King, previously the managing director of Jewelmark Industries, has been appointed executive director responsible for product development and design. The company said that both Italia Chain and Jewelmark Industries had in the last two years spent over SNZ3M to establish overseas markets, particularly in the United States and Australia. Funds raised from the issue would be used to capitalise on the enormous growth prospects in the international jewellery market, currently estimated to be worth SUS3S billion.