Prime-West relisting is delayed
The scheduled relisting of Prime-West Corporation, Ltd, formerly Sovereign Gold Mines, Ltd, has been put back from February 3 to late May or early June, it was announced yesterday.
The West Coast company’s accounting advisers, and its advising broker, Forsyth, Barr and Company, of Dunedin, had reviewed the listing date, the company said in a statement.
The holiday period had delayed completion of the consolidated accounts for Westside Traders, Ltd, to October 31. Westside Traders is the West Coast retail group that bought 70 per cent of the shares in Sovereign Gold Mines, Ltd, after shareholders at the goldminer’s first annual meeting last year approved reconstruction proposals. Mr Brian Kreft, of Forsyth, Barr and Company, who is the broking adviser
to Prime-West, said yesterday that because of the short time to the end of the financial year of the company (March 31), it was decided to seek relisting once the accounts for the period had been completed.
Instead of presenting the accounts piecemeal — some from Westside Traders and some from Prime-West — it was decided to present orthodox accounts from PrimeWest, as the holding company, and its six subsidaries, including Sovereign, to March 31, he said. When the application had been made to the New Zealand Stock Exchange for relisting, a report and profile, including the audited group financial statements and a group financial forecast to March 31, 1987, would be circulated to shareholders, sharebrokers,
business reporters, and other interested parties.
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/CHP19860201.2.139
Bibliographic details
Ngā taipitopito pukapuka
Press, 1 February 1986, Page 21
Word count
Tapeke kupu
244Prime-West relisting is delayed Press, 1 February 1986, Page 21
Using this item
Te whakamahi i tēnei tūemi
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 Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). 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
Ngā mihi
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in