Control of Big Apple changes
PA Wellington Charter Corporation, Ltd, has sold its majority shareholding in the Big Apple Ltd, but has retained a stake in the Christchurch ice-skating rink operator. Charter’s managing director, Mr Chris Castle, said yesterday that his company had sold 2,706,000 Big Apple shares, representing 51 per cent of its capital. The sale at 55c a share was to Variety Leisure Corporation, an associate company of Leisureland Corporation, Ltd. Leisureland, floated in 1986, runs the Footrot
Flats leisure park in Auckland and owns the Waiwera thermal pools complex north of Auckland and the market and shopping complex at Freeman’s Bay. Last year, 51 per cent of the holding in Leisureland was sold to an unnamed private company. Mr Castle said, “This transfer is expected to considerably enhance the future earnings prospects of the Big Apple, Ltd, and to this end Charter retains a 14.2 per cent shareholding and will continue to be represented on the board of directors.”
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Press, 22 October 1986, Page 37
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162Control of Big Apple changes Press, 22 October 1986, Page 37
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