New McInerney shares to trade in new year


TRADING in the new McInerney Holdings shares will begin on January 6th and trading in McInerney Properties, the original debt-ravaged company, will cease on December 31st.

When McInerney Holdings begins trading early next year, its biggest shareholder will be ICC Venture Capital with a 28 per cent stake in the company. The existing shareholders of McInerney Properties will end up with 4.5 per cent of the new holding company, but this can rise to 20 per cent if they take up their full entitlement to shares under a clawback in the current placing of shares.