St Laurence signals ownership change

Australasian property investment and finance group St Laurence Ltd is signalling a change in its ownership structure.

Tuesday, February 13th 2007, 6:26AM

Managing director Kevin Podmore said the company was considering unsolicited approaches from investors wanting to take a shareholding in St Laurence but no decision had been made.

Shareholder BG Capital Ltd, which holds the interests of director Phil Newland, has exercised an option to sell its 20% stake back to the major shareholders.

Preliminary discussions indicated a new investor will seek a cornerstone stake in the company and Newland would become a non-executive director of companies within the St Laurence group.

"We will only bring in a new partner that fits the culture and direction of the company, provides synergies with our existing business and adds future value to investors in all our funds and investment vehicles," he said.

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St Laurence signals ownership change

Australasian property investment and finance group St Laurence Ltd is signalling a change in its ownership structure.

Tuesday, February 13th 2007, 6:26AM

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