Equitilink Aust, into Primacq
PA Wellington Property developer, Primacq Holdings, Ltd, said Equitilink Australia has bought 5 million shares, or 7.69 per cent, of Primacq (formerly Rainbow Properties). The purchase, on behalf of one of Equitilink’s managed funds, was at an undisclosed price. A Pri-
macq spokesman said the price was at a discount to the market. Primacq said the shares were sold by managing director Ken Wikeley, who previously held more than 60 per cent of the total shareholding. Mr Wikeley said it was not in shareholders’ best interests to have such a
large stake held by one director. Equitilink is Australia’s largest fund manager with over 250,000 investors world wide and sAust3.3 billion in managed funds. The Primacq holding is regarded as a long-term investment.
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Press, 20 October 1987, Page 26
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127Equitilink Aust, into Primacq Press, 20 October 1987, Page 26
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