Changes at Adata

Press, 15 February 1986, Page 26

Changes at Adata

Three new directors have joined Adata Software, Ltd, after the Development Finance Corporation and Northrop Instruments and Systems, Ltd, involvement in the' financial reconstruction of the Christchurch company last month. The DFC increased its shareholding in Adata, and Northrop took up a 20 per cent Interest in the Christchurch company, initially through cumulative preference shares. Mr David Steele, of DFC Southern Ventures, and Messrs Murray Cole and John Isles, from Northrop, have been appointed directors of Adata. The other members of the board are Messrs Peter Roselli, the firm’s New Zealand executive director, and Roger Nixon, who was appointed North American marketing manager, and based in the United States. Mr Isles has been appointed chairman of Adata. Adata Software’s product is EXSYS, an advanced software generation system designed to put computer systems design in the hands of users, with little or no help from software experts. Philippines peso the Philippine peso suffered its biggest single-day fall in 15 months, six days after the still undecided Presidential election, central bank figures showd. Trading on Thursday left the peso-US dollar ratio at 20 to one, compared with 19.273 to one a day earlier, or a 3.7 per cent devaluation. The rate had been going slowly downward for several days.