IEL Acmex bid looks successful
NZPA-AAP Sydney The Industrial Equity bid for one of its major listed subsidiaries, Acmex Holdings, appears to be a fait accompli even before the Part A statement has been registered. In a notice to the Australian Stock Exchange, lEL said it was now entitled to 66,486,928 fully paid voting shares or 89.14 per cent of Acmex plus, lEL directors and employees were entitled to
another 791,567 or 1.06 per cent. On August 4 lEL announced it would offer Austl9Bc (NZ253c) a share, Acmex, which owes its parent sAustl2s million, was originally an entrepreneurial company, but now has solid assets including the Gladwrap packaging operations in Australia and New Zealand, 40 per cent of Eveready batteries, Cheetham Salt, and Yates and Hortico gardening products.
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Press, 22 August 1989, Page 30
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128IEL Acmex bid looks successful Press, 22 August 1989, Page 30
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