Lion date
Lion Corporation now has 95.17 per cent of the issued capital of L. D. Nathan and has extended its offer until April 26, the company has told the Stock Exchange. More than 10,200 L. D. Nathan shareholders have accepted the one-for-one scrip swap offer which was to have closed on April 11.
Hartogen profit
Oil and gas producer, Hartogen Energy, said net profit for the year ended December 31 had risen by a mere 1.5 per cent despite an over-all improvement in sales revenue. Net profit for the full, year were up to sAust7.44 million (8NZ63.10 million) from $7.34 million in 1986, but the bottom; line results were slashed by more than half due to an extraordinary loss arising from the provision of unrealised foreign exchange losses. The losses, which increased to $4.36 million from $3.67 million in 1986, stem from a 50 million Swiss franc loan drawn down in mid-1985 and repayable in June, 1990.
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Bibliographic details
Press, 12 April 1988, Page 23
Word Count
158Lion date Press, 12 April 1988, Page 23
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