FAR to restructure Dermide
PA Wellington Finance and Resources, the New Zealand based transtasman investment bank and resource de-. veloper, is to restructure its Australian associate, Dermide Holdings.
Dermide will be. renamed FAR (Australia), Ltd.
FAR has sold 2,955,000 ordinary shares at . Aust32oc to a number of Australian institutions, private clients of Rivkin James Capel, Ltd, and interests associated with Mr Brian Russell. Mr Russell, who was formerly associate director of Rivkin James Capel, has been appointed managing director of Dermide.
FAR now has 49 per cent of the issued capital.
The introduction of institutional and widespread private shareholder support had strengthened the Dermide shareholder base, FAR chief executive, Mr lan Smith, said. The company was to introduce a small highly skilled Sydney-based investment banking team.
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Press, 17 October 1987, Page 25
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126FAR to restructure Dermide Press, 17 October 1987, Page 25
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