Environ $12M float
PA Auckland Environ Corporation, Ltd, formed to establish and operate the nation’s first integrated refuse recovery and recycling system and to promote the establishment of similar facilities throughout New Zealand and Australia, is to raise $l2 million in a public issue of shares and seek Stock Exchange listing. Environ Corp says it intends to offer 24 million 20c shares at a 30c premium. For every five shares allotted, shareholders will receive a free option exercisable at
50c on or before April 1, 1989.
Of the 24 million ordinary shares being offered, 5,800,000 will be reserved on a non-renounceable basis for share and option holders in Investment Finance Corp, Ltd.
They will be offered one Environ share for every six shares or options held in IFC at close of business on Friday, April 3. Environ expects its prospectus to be registered on March 30.
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Press, 13 March 1987, Page 10
Word Count
146Environ $12M float Press, 13 March 1987, Page 10
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