Exchange looks at merger
PA Auckland The Smart Richmond Group may be the next listed company to feel the bite of the Stock Exchange’s newfound teeth. The exchange’s executive director, Mr Roger Gill, confirmed that it was looking at the recently released merger document between Smart Group and Richmond Group. “We are looking at the issues raised by a cash payment to one party in terms of the general merger,” he said. The merger document shows one company with a shareholding in Richmond Group is being paid a substantial cash sum whereas all other shareholders are being offered Smart Richmond shares. The company to be paid in cash is Australasian Properties Incorporated, which is to receive 250 c for each Smart Richmond share, when the shares’ current market value is 85c.
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Press, 23 January 1988, Page 29
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131Exchange looks at merger Press, 23 January 1988, Page 29
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