There ain't no Sanity Clause
Quote:
Originally Posted by
croesus
Can anybody enlighten me .. on this deal between St L and NAP .. re notice today...
Cast List:
St Laurence Limited: A limited company which
a) owns 100% of the shares in St Laurence Property & Finance Limited
b) owns 100% of the shares in The National Property Trust Limited
c) owns units in the The National Property Trust
St Laurence Property & Finance Limited: A limited company which owns units in the The National Property Trust
The National Property Trust: A trust which owns property and whose units are quoted on the NZX aka NAP
The National Property Trust Limited: A limited company which manages The National Property Trust and owns units in the The National Property Trust
What ?
The notice publishes an agreement for The National Property Trust Limited (the Manager) to buy, if it so desires, all the units of the The National Property Trust (the Trust) that are currently owned by St Laurence Limited (the Parent Company of the Manager) within a fixed time frame months at a fixed price.
Why ?
Ask Kevin !
regards
Paper Tiger
Sometimes I get the details wrong
Quote:
Originally Posted by
westerly
Paper Tiger,
I think St laurence have about 31% of the shares in St. Laurence P. & F
Regards
Westerly
Welcome Westerly
According to the Companies Office all 149,497,566 of ST LAURENCE PROPERTY & FINANCE LIMITED shares are held by ST LAURENCE LIMITED, which is how I came up with 100%.
However I believe you are correct, I forgot that they are listed on Unlisted following on from all the goings on at the end of 2008 when the note holders became shareholders.
regards
Paper Tiger
got to watch out for these damn whippersnapper new posters with no respect for us old folk