Still no AMP decision
The AMP Society still has not decided whether it will accept the offer by Brierley Investments, Ltd, for outstanding shares in Lane Walker Rudkin. Brierley’s announced yesterday that it now controls 73.6 per cent of the shares in LWR. Brierley’s made its offer of 175 c a share in early July, when it owned 56.13% of the company and LWR’s shares were selling for 151 c. The last traded price of LWR is 180 c. Mr Chris Holmes, the share investment manager for the AMP, said in Wellington yesterday that the society still had its LWR shares. The AMP lifted its stake in LWR from 8% to more than 10% in July to prevent Brierley’s from compulsorily acquiring 100% of the LWR shareholding.
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Press, 31 August 1989, Page 38
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127Still no AMP decision Press, 31 August 1989, Page 38
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