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Press, 24 August 1988, Page 42

Kupe suspended Kupe Group has been suspended from trading on the New Zealand Stock Exchange, following the announcement yesterday that it has postponed a one-for-two cash issue. The issue was postponed because of the withdrawal last week of Euro-National Corporation’s full takeover offer. But the Exchange has suspended Kupe till such time as it provides further details on .why the cash issue was cancelled. The issue, Kupe said, has been delayed 30 days, allowing newly appointed directors of Euro-National to “gain a better appreciation of Kupe’s ongoing business.” Ceramco sale Ceramco Corporation has sold its 50 per cent share of Rinnai New Zealand, Ltd, to Rinnai Corporation, of Japan, for an undisclosed cash sum. Ceramco and Rinnai Corporation were joint partners in the New Zealand company, which manufactures and distributes domestic and commercial gas heating appliances. M. Hill store Michael Hill International, New Zealand’s, only listed jewellery company, opens the doors of its eighteenth store today. Situated in Cuba Mall, central, Wellington, it is the eighth new shop to be opened by the company since it listed on the stock exchange in July, 1987. The company, will now operate 13 stores within New Zealand.