Briefs
TVNZ error A Television New Zealand error has caused confusion among shareholders in Brierley Investments, according to Brierley company secretary, Mr John Beattie. A TVNZ news item on Thursday night suggested that yesterday was the last day investors could take up BlL’s cash issue, Mr Beattie said. BIL had subsequently received "a large number of calls today from confused shareholders.” “BIL is posting cash issue documents to shareholders today and the issue will close on December 18 as stated in the annual report," Mr Beattie said. lEL issue Industrial Equity Ltd (IE1) has returned money received from shareholders who accepted its one-for-10 rights issue, which closed on November 16. lEL said since the issue was planned at 400 c a share, dramatic changes on world stock markets made the rights price inappropriate, as it now significantly exceeded market price. lEL closed at 205 c. Since the share market fall it hastouched 170 c, from a year’s high of 710 c. Questar move Argus Questar Corporation has received acceptances for 97 per cent of the shares it offered for in Argus Corporation, 90 per cent of the shares in Hobson Group and 76 per cent of Hobson’s options. It will proceed with compulsory acquisition, of the balance of shares and options in both cases. News profit Rupert Murdoch’s international media group News Corporation has reported increased net profit of sAust76 million (JNZBSM) for the first quarter to September, thanks mainly to its takeover of the Herald and Weekly Times, Ltd (HWT). News Corp said the result was 31
per cent up on the sAusts7.97M profit for the corresponding three months last year and was achieved on a four per cent rise in group revenue to J 1.388. Barclays index Barclays Bank New Zealand has replaced Wattle Industries and Skellerup industries in the Barclays index with Aurora Group and Corporate Investments. F. and P. price Fisher and Paykel Industries said the 8c a share (16 per cent) interim dividend would convert into bonus shares at 376 c a share.
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Press, 21 November 1987, Page 31
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338Briefs Press, 21 November 1987, Page 31
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