Leyland Grth for 40% Kaurex stake
PA Wellington Leyland Growth, Ltd, is to take a 20 per cent stake in the wax and resin maker Kaurex Corporation, Ltd, the chairman of Kaurex, Sir George Chapman, said in a statement. Kaurex placed 1,940,000 shares at 80c each with Leyland Growth and will seek shareholder approval for the placement of a further 2,910,000 shares at 80c each to take Leyland’s holding to 20 per cent of the increased capital. Approval would also be sought to the placing of 1,387,500 options so that Leyland Growth would have 20 per cent of the Kaurex options on issue. Sir George said Leyland’s involvement would make it possible for Kaurex to provide increased capacity and flexibility in
the company’s processing plant at Kaimaumau in response to the indications of higher world demand for waxes and resins. It would also enable Kaurex to move towards higher production levels earlier than originally anticipated.
Kaurex directors welcomed the commitment of Leyland Growth to their project, which was expected to produce increased overseas exchange. They were confident shareholders would benefit from the capital moves.
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Press, 22 October 1986, Page 38
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184Leyland Grth for 40% Kaurex stake Press, 22 October 1986, Page 38
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