Charter float

Press, 30 August 1986, Page 27

Charter float

PA ’ Wellington A vehicle to enable the public to invest in foreign exchange trading is to be floated by Charter Corporation, Ltd, and the unlisted Forex Consultants, Ltd. Charter said the new company, to be known as Australis International, Ltd, will issue 26,336,487 ordinary shares of 25c. A free option will be attached to each share to be issued. Each option will enable the holder to subscribe for one new 25c share at par on or before March 31, 1988. It is intended that after the issue, Charter and Forex Consultants will respectively own 25 per cent and 10 per cent of the share capital. Approximately 49.8 per cent of the issue (13,155,000 shares) will be offered to Charter shareholders on a preferential basis. Charter shareholders will be offered non renounceable rights to sub-

scribe for shares in the new company in the ratio of one Australis share for every two Charter shares held. The balance of the issue (4 million) will be reserved for firm allocation by the organising brokers, by Charter and by Forex Consultants. Charter lifted its don’t sell notice after the announcement off the new company.