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31 May 1985
News release
Securities Commission completes enquiry into trading of shares in Alex Harvey
The Chairman of the Securities Commission, Mr Colin I. Patterson, announced today that the Commission had completed its enquiry into trading of shares in Alex Harvey Industries Ltd on the New Zealand Stock Exchange in the period immediately prior to the takeover announcement by Cater Holt Holdings Limited.
Mr Patterson said that the Commission had made enquiries in New Zealand and Australia and had identified the substantial buyer of AHI shares. The buyer had given the Commission an explanation of the transactions. Under the law as it stands the buyer is not required to disclose his identity. This would change if the Government were to accept the Commissions recommendations for a law relating to nominee shareholdings in public companies.
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