Strathmore agreement
PA Wellington The financially troubled Strathmore Group, Ltd, has reached conditional agreements to sell its interests in Waikato Stud, Ltd, the Balfour Stud and the Newbury Park Stud to a group of Victorian businessmen headed by lawyer, Mr Gary Need-
ham. The company has told the Stock Exchange it has agreed to sell all its 13,405,609 shares of 25c each in Waikato Stud to Mr Needham for $Au5t6,005,700. It will sell to Mr Needham or his business vehicle, Pluteus (No 133) s Pty, Ltd, the property and operations, except for certain bloodstock, of the Balfour and Newbury studs for $Au5t12,551,150. And it has agreed to
sell a 30 per cent interest in the stallions Dahar and Palace Music for sAusts million. The agreements are conditional on statutory approvals being obtained and upon certain waivers by people with interests in Dahar and Palace Music. All settlements will be in cash to be paid no later than September 30. Mr Needham is the senior partner in the Bendigo law firm Needham, Templer, Schleiger.
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Press, 16 July 1987, Page 28
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173Strathmore agreement Press, 16 July 1987, Page 28
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