INDEPENDENT NEWS

PRG To Take Additional 3.55% Of Bendon Group

Published: Thu 17 Jan 2002 03:18 PM
Auckland, 17 January 2002 -- Pacific Retail Group (NZSE:PRG) announced that it has today secured an option to purchase an additional 1,095,597 shares in Bendon Group Limited (approximately 3.55%) from AXA at $1.90 per share.
The option, which is not subject to a price escalation clause, expires on 31 January 2002.
When exercised and added to the 15.5% strategic stake PRG acquired yesterday it will leave the Company holding 19.05% of the Bendon shares on issue.
“Yesterday we paid a higher price for a larger and more important stake,” said PRG Director and Group Managing Director of Cullen Investments, Phil Newland. “While today’s parcel also commanded a premium, that is again justified through its strategic value. It brings us to a threshold we are comfortable with for the present.”
ENDS

Next in Business, Science, and Tech

Contact delivers for customers, employees and shareholders
By: Contact Energy
OceanaGold Announces Receipt Of WKP Mining Permit
By: OceanaGold
COVID-19 lockdown has widespread effects on labour market
By: Statistics New Zealand
New Research By NZ Post Shows Online Shopping Grew 105% In Alert Level 3
By: New Zealand Post
Westpac NZ Lowers Merchant Fees For Small Businesses
By: Westpac New Zealand
Million Dollar Plus Property Sales Increase 11.7% Nationally, Says REINZ
By: REINZ
Ice-olation For Antarctica New Zealand
By: Antarctica New Zealand
July House Price Index illustrates market resilience
By: QV Valuations
Queenstown Rents Experience Biggest Drop In Seven Years
By: Trade Me Property
The Quiet Earth
By: Auckland University
James Shaw says Kiwibank, not ministers should decide on investors
By: RNZ
Kiwis Confident Financial Markets Will Recover From COVID-19, Plan To Increase Investments
By: Financial Markets Authority
Warehouse Using Covid For Cover As Extensive Restructure Makes Everyone Worse Off
By: FIRST Union
Stronger Green Voice Needed Next Term To Stop More Mining On Or Under Conservation Land
By: Green Party
Unemployment Figures Don’t Tell The Full Story
By: New Zealand National Party
View as: DESKTOP | MOBILE © Scoop Media