Wellesley to subscribe
PA Wellington Wellesley Resources, Ltd, would subscribe for 18 million SAustl shares in a newly established Australian based company, Wellesley said in a statement. Full details of the company, which will have a total initial issued capital of $90,000,000, will be an-
nounced in Sydney on December 1. Another 18 million shares would be placed in New Zealand and a prospectus for the issue was about to be registered. Subject to Stock Exchange approval the shares would have dual listing in both Australia and NewZealand, Wellesley said.
Wellesley said their shareholders would be given the opportunity of direct participation and 6 million shares
had been reserved for this purpose by the N.Z. organising brokers, Jarden and Co.
To determine entitlement, Wellesley’s books would close on December 1, the company said.
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Bibliographic details
Press, 27 November 1986, Page 25
Word Count
133Wellesley to subscribe Press, 27 November 1986, Page 25
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