Smart share issue
PA Wellington The Smart Group, Ltd, shareholders have approved the issue of 4 million 50c shares to Williams family interests as part payment for the take-over of Williams Property Holdings, Ltd. An extraordinary meeting of Smart Group also approved increasing the company’s capital from $lO million to SSOM, the company said yesterday. Smart had received Commerce Commission approval to purchase 100 per cent of Williams Property Holdings, and the Commission also consented to Williams Development Holdings, Ltd, and Williams Construction Company, Ltd, acquiring 49 per cent of Smart Group. Both companies had developments due for completion within 12 months in excess of SBOM. Settlement for the Williams take-over would take place on June 30. The asset backing per share of Smart Group after the take-over has been calculated at 272 c. It was currently trading at 250 c.
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Press, 13 June 1986, Page 9
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141Smart share issue Press, 13 June 1986, Page 9
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