Spalvins buys more
NZPA-AAP Perth John Spalvins’ Adelaide Steamship Co has continued its assault on Bell Resources (BRL) with the acquisition of a further 10.42 million shares. In a substantial shareholder notice to the Perth Stock Exchange, Adsteam said it now holds 80.40 M shares or a 14.53 per cent stake in BRL. The shares were picked up in on-market buying last week, Adsteam said. Spalvins may be able to increase his stake further if
he can snap up the 1.3 per cent stake the AMP Society said it plans to offload. AMP investment manager, Leigh Hall, said it planned to sell its BRL holding on-mar-ket and would accept around Austl7sc a share. So far Spalvins has refused to comment on Adsteam's intentions for BRL, which Alan Bond proposes to merge with Bond Corp Holdings once his Aust27oc a share offer for BRL’s parent company, the Bell Group, has been completed.
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Press, 24 August 1988, Page 40
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151Spalvins buys more Press, 24 August 1988, Page 40
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