Briefs
LeyCap buys Leyland Capital, Ltd, has acquired the equivalent of 15.44 per cent of a furniture and appliance retailer, Irvin and Stern Holdings, Ltd. Leyland Capital has bought 300,000 ordinary shares for a consideration of $315,000 and 1,473,594 rights to the Irvin and Stern cash issue next month. Two purchases Technigroup Holdings, Ltd, has purchased two industrial sewing machine companies expected to have a combined turnover of more than $7.5M for the year ending February 28, 1987. The companies are Sewingtime Supplies and Service, Ltd, and Auckland Sew-
ing and Knitting Machine Specialists, Ltd, which were purchased for an undisclosed sum. Approval A company owned by two Leisureland Corp, Ltd, directors has the Examiner of Commercial Practices’ approval to take up to 100 per cent of the amusement park operator’s shareholding. The examiner said he had given his consent to Marketing Management Holdings, Ltd, which had sought more than 51 per cent of Leisureland’s share capital. Seats for lease In a bid to increase liquidity and depth in its trading, the
Sydney Futures Exchange will allow local members to lease their seats to outsiders. The decision follows an extraordinary general meeting of floor members. Market board Mr Eric Millar is to be chief executive of the New Zealand Market Development Board. He retired as chief executive of Crown Corporation, Ltd, earlier this month after 24 years with the Dalgety-Crown group. Members of the board are: Messrs Peter Shiftcliffe (chairman), Mike Andrews, Jim Knox, Jack Hazlett, Dr Don Brash, Messrs Earl Richardson, Bernie Knowles, Brian
Service, Stuart Young, Rodney Walshe, Ms Sue Suckling, Messrs Harry Clark, Mervyn Norrish, and Malcolm Cameron. Money growth Growth in the broad monetary aggregate (M 3 is estimated aU 19.1 per cent for the year to October, 1985, the Reserve Bank said. This was almost unchanged from the previous month but was down from the peak annual growth rate of 23.4 per cent recorded in the year to July. Seasonally adjusted M 3 growth for October was 1.4 per cent, slightly up on the 1.2 per cent increase recorded in September.,
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Press, 26 December 1985, Page 14
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346Briefs Press, 26 December 1985, Page 14
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