Briefs

Press, 20 May 1987, Page 41

Briefs

S3OM T-bills The Reserve Bank sold $3O million worth of Treasury bills yesterday with a maturing date of September 24. The interest rate range varied between 21.08 per cent and 21.22 per cent with a weighted average of 21.13 per cent The total bid was $64 million. AA approval AA Mutual Insurance Co. has received Commerce Commission approval to acquire up to 100 per cent of Charter Corp., Ltd. AA Mutual is already the largest shareholder in the Wellington-based investment company. SBSM for Kupe Kupe Group, Ltd, will receive $85,714,795.89 from the sale of its 24 per cent holding in Ceramco Group, Ltd. Kupe said in a statement it had reached agreement to sell the 6,786,603 shares at a price of 1263 c each. Rheem bonus The directors of the Rheem Australia, Ltd, will make a one-for-one bonus issue of shares to shareholders registered at 5 p.m. on June 9. The bonus shares will be allotted about mid-June and will rank equally with currently issued shares from the date of issue. lEP stakes Industrial Equity (Pacific), Ltd, advise that as a result of recent share purchases they now hold 797,718 shares of Union Special Corporation, a Delware company traded over the counter representing 27.76 per cent of the Issued share capital of that company and 6,250,000 shares of Horizon Travel pic, a Birmingham company listed on the London Stock Exchange representing 12.54 per cent of the issued share Cital of that company. Offer closes Alcan Australia, Ltd’s takeover offer for Alcan New Zealand, Ltd, has now closed, Alcan NZ said. Alcan Australia was originally the parent company of Alcan NZ, an aluminium fabricating firm.