Rada for Aust.
PA Wellington Rada Corp is to list in Australia as soon as practicable. Chairman Mr Bob Gunn, announced that to facilitate this the 19.9 per cent of the share capital of Rada held by Crown Corp had been bought by Hendry Nominees, Ltd. This sale follows the exercise by Rada of an option to arrange for the placement of those shares.
Hendry Hay Mclntosh are acting as brokers for Rada and it is Intended that the shares bought from Crown be placed
with other parties in Australia.
The sale Involved 83,405,995 ordinary shares of 50c at a price of 135 c each and 20,396,653 options at 70c per option. Crown Corp now holds less than 1 per cent of the ordinary shares and options of Rada. The crown chairman, Sir Roderick Weir, said that its sale of shares had produced a net profit of more than $2O million and Crown was now well positioned to expand its international marketing and Investment activities.
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Press, 6 October 1987, Page 47
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165Rada for Aust. Press, 6 October 1987, Page 47
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