Eureka suspended
Trade in the shares of Eureka Yachts has been suspended at the request of the company’s directors, the Australian Stock Exchange said. No further details were provided. Directors of Eureka, a company associated with the late Ben Lexcen, said in a statement on Monday that the collapse of the 21.15 per cent shareholder Genoa Resources and Investments had threatened its ability to continue as a going concern.
Genoa, along with Hartogen Energy Ltd and Consolidated Petroleum (Australia) NL, was put into provisional liquidation last week. Eureka directors said they were holding talks with the
provisional liquidators for outside investors to , buy Genoa’s stake in the company.
Eureka was listed in December, 1986 after acquiring Lexcen’s jointly-owned yacht design and development company Australian Marine Development Pty. The company has failed to make a profit since listing, and reported a loss of sAust7B,ooo ($NZ135,299) in the half year to December 31.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19890608.2.132.23
Bibliographic details
Press, 8 June 1989, Page 31
Word Count
151Eureka suspended Press, 8 June 1989, Page 31
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.