Feltex go-ahead
PA Auckland Shareholders in Feltex, NZ, Ltd, yesterday approved resolutions which will enable Feltex to take a major role in Equiticorp Tasman, Ltd, and its bid for ACI International, Ltd. At an extraordinary meeting in Auckland they approved the purchase of 108,674,164 SAustl convertible notes in Capitalcorp Holdings, Ltd, for sAust43.3M,
made up of 5,276,501 ordin ary Feltex shares to be issuer at SNZ3 each and 14,463,181 SNZ3 subordinated convert’ ible notes — about JNZS9M in total. The proposal is for Felte? to acquire indirectly througt the Capitalcorp notes issue about 24 per cent of Equi ticorp Tasman. Shareholders approved the issue of 11M Feltex ordinarj shares to a wide range o: Australian institutions at 310 c
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Press, 22 April 1986, Page 26
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118Feltex go-ahead Press, 22 April 1986, Page 26
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