Chase clone
PA Auckland Jonray Holdings, Ltd, all but taken over by Chase Corp, Ltd, in May, is to be restructured into a major investment company with Chase retaining a 50 per cent interest. Under the reconstruction scheme, Mr Ross Grant, a director of Macquarie Bank, Ltd, and Mr Mark Scott, an institutional adviser with the Australian sharebrokers, Potts West Trumbull and Company, will acquire a 30 per cent stake in Jonray. The proposal is subject to shareholder approval at an extraordinary meeting to be called early in September.
Mr Colin Reynolds, executive chairman of Chase Corp, said in Sydney that Jonray would undertake international Investments, and would operate in a similar way to Omnlcorp Investments, Ltd, in New Zealand. Jonray will operate independently of Chase in Australia, as Omnlcorp does In New Zealand. Chase saw its role as providing directorate participation and assistance in planning and financial structuring, said Mr Reynolds. Chase will be represented by Mr Reynolds, Mr Peter Francis and Mr Bill Wavish,
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Bibliographic details
Press, 23 July 1986, Page 37
Word Count
166Chase clone Press, 23 July 1986, Page 37
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