Options

Press, 13 May 1987, Page 49

Options

• Do not participate in bonus issues. a Earliest of optional conversion dates. b Half convert for cash (190 c or ords 1:1 on 31.3.87, or all on same terms on 31.3.89. c Cash at par or 1:1. d Cash at par or convert one-third of holdings on 1.4.87 or one-half on 1.4.89, balance on 1.4.91. e Convert at 81.5 per cent of then market value of the ords. f Final conversion date. g Cash or convert half the difference between par and market values at 1.4.87, 1988 or 1989. k Adjusted for issues. m Exercise price. p Exercise price may be varied according to rules set out in prospectus. q 70 p.e. of weighted average price for July, 1988. r Anytime before 31.03.91. s or one month before bonus or cash issue, at 50c. t lesser of 200 c or 70% of average sales Nov. and Dec. 1989.

Un. Res options Share options in United Resources Investment Holdings, Ltd, may be converted to fully paid shares by payment of 50c a share no later than June 30, the company has advised the Stock Exchange. Net asset backing at United’s head shares on May 7 was 145 c each, or 111 c each on a fully diluted basis if all options are exercised. In calculating these figures, listed investments in gold and petroleum companies have been taken at market value, but no value has been attributed to the group’s ownership of Pike River Coal Co., Ltd, as it is an unlisted private company. NZI control NZI Corporation has bought a controlling interest in the export printing house Image International, Ltd. The shares have been purchased from the owners, the Richards family, subject to Commerce Commission approval. The family is negotiating with a party to purchase their minority shareholding, with NZl's consent. lEP for Aust. Industrial Equity Pacific, Ltd, the Hong Kong-based United States and British investment vehicle for Brierley Investments, Ltd, will list on the Australian Stock Exchange in late June, Brierley Investments has confirmed. No funds are to be raised, but the listing will make investment in lEP easier for Australian investors. Expected market capitalisation is sAustl.2 billion. Stake in XS Northland FM Radio, Ltd, has advised the Stock Exchange that the company now holds 648,500 shares in XS Corp., Ltd, the Manwatu FM radio operator. The stake gives Northland FM Radio 50.1 per cent of XS Corp. Lane’s buy Lane’s Industries, Ltd, has bought Melbourne’s leading indoor plant rental company, Carpe Diem Pty, Ltd, making it one of the biggest indoor plant rental companies in the world. The cost of the purchasae has not been announced. Lane’s owns the Brewster Hire Plant chain throughout New Zealand and other indoor plant rental companies in Brisbane and Sydney. Asset manager Government Life has appointed International fund managers, Morgan Grenfell, to manage its overseas assets which now exceed S2OOM, managing director, Mr Hutton Peacock, has announced. First meeting The New Zealand branch of the International Association for Financial Planning is to . hold its inaugural conference at the Sheraton Hotel, Auckland, today. More than 200 representatives of New Zealand sharebrokers, insurance companies, accounting firms, financial services organisations, finance houses, financial planning specialists, building societies and banks will attend. Macau visit A joint government-busi-ness delegation from the Portuguese colony of Macau will visit New Zealand next week the Minister of Overseas Trade and Marketing, Mr Moore, .said. In Wellington, the delegation, headed by Dr Carlos Monjardino, the Secretary for Economy, Finance and Tourism, will call on Associate Minister of Overseas Trade and Marketing, Mr O’Flynn. It will also have discussions with the Department of Trade and Industry and banking and financial organisations. In Auckland it will meet a range of New Zealand exporters and travel industry representatives.

Share Last Sale Ajax. 85 Amstrat 45 Apple Fields 50 Arahi 15 Areco 4 Australis 9 Baycorp 400 Bexley 210 Bowen 138 Carter 240 Charter 34 Chase 220 Clypex 15 Coronet 48 Corp. Inv 120 Crown 100 Entregrowth 47 Energy 95 Euro-Nat 540 Gen. Prop 140 Grocorp 30 Heritage 23 Hobson 35 Inv. Fin 30 Kaurex 30 Landmark 20c 100 Lanes 10 Leverage 10 Luxoil 15 Main Corp no Min Res 72 Miniskip 65 NZ Equit 350 Nff-Equit 80 NZ Steel 6 Nthland FM 80 Northrop 18 Oilflbids 15 Omnicorp 120 Pac Sun 5 Paladin 50 Pharmol 60 Premier 12 Premier Rainbow 360 Rank 10 Smart Group 168 Somex 15 Spectrum. 70 Sthn Pet 8 Tag 450 Tulwest. 200 Utd Res 18 Venture Corp 30 Waikato Stud 2 Westbridge 20c 55 Will Prop 50c 130

Conversion Date Conversion Terms 30.6.98 185c 30.9.91 50c 79c 30.06.88 30c 31.3.88 50c 1.7.88 100c 31.03.88 300c al.4.90 300c 31.3.91 500c 30.11.88 m 25c 31.7.88 1:1 S 30.6.91 1:1 at 200 1.12.89 10:11 at par 20.6.90 1:1 at 300 ’ al5.8.88 9 1.4.87 100c 31.3.87 p 60c 50c 1.4.90 1:1 at 185 al.12.90 50 30.9.90 4:5 at 40c 31.3.89 25c 31.3.90 - 4:1 at t 31.3.88 60c a31.3.87 1:2.5 at 150c 31.12.90 1:1 at 300 1.10.87 150c 1.7.87 m 50c 30.9.88 m par 31.3.91 50c 31.3.88 2:1 at 50c 1.8.88 1:1 at 50c 31.3.88 25c 31.3.90 1:1 at 25c 1.8.86 25:37 at 40c 30.6.89 1:1 at 100c 14.10.88 100c 31.12.91 1:1 at 50c 30.6.88 m 25c 30.9.88 35 . 30.6.87 3:4 at 60c 31.6.89 100c 30.6.87 m 50c 30.6.88 50c 31.5.87 50c 31.12.88 . 40c 29.6.88 50c