MCINERNEY Holdings, the house building company, has announced that the open offer of 4,107,143 ordinary 10p shares, at 35p per share, to the existing A ordinary shareholders in McInerney Properties has been taken up by 41.12 per cent.
The response is much better than the percentage figure indicates. Around half the shares were held by institutions and McInerney family interests who were already in the loan stock and had taken up new shares under their convertible rights, said Mr Barry O'Connor, group managing director. Others had agreed to take up new shares under ICC Bank Venture Capital which consented to take a 28.4 per cent stake in McInerney Holdings for £2.5 million.
The last day for dealings in the A shares was December 31st 1996. Dealings in the new shares will begin next Monday.
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