Landmark stake sold
PA Wellington The chairman of Landmark Corp, Ltd, Mr Oily Newland, yesterday bought from Chase Corp its 10 per cent shareholding in Landmark for $6,131,000. The sale involves 13,625,000 ordinary shares in Landmark at a price of 45c a share, which Mr Newland said reflected the strategic nature of the parcel. While the price was above that of recent on-market transactions in Landmark shares, it was still well below
their current asset backing, he said. Mr Newland said the purchase reflected his confidence in the company’s future and made him and associated interests the single largest shareholder in Landmark. Chief executive of Chase, Mr Richard Adams, said the sale of the Landmark holding completed Chase’s New Zealand programme of rationalising its associate company investment. The sale and purchase of the shares was settled in cash yesterday.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19880504.2.160.14
Bibliographic details
Press, 4 May 1988, Page 40
Word Count
139Landmark stake sold Press, 4 May 1988, Page 40
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in