Forum Archive Index - February 2000

["Adam Rands" <adam@iguana.co.nz>]

 

Dorchester Pacific announced the purchase of Direct Broking, a member of the
 NZSE.  Murray Radford, Chairman of Dorchester Pacific, said the purchase  would
augment and complement the range of services that Dorchester companies  offered
to investors and the business community.  The consideration for the  purchase is
$2.75m, made up of $1m Dorchester shares at $1.15 per share, plus  $1m of
Dorchester Finance subordinated unsecured notes and $600,000 cash.  Brent King,
MD of Dorchester Pacific, said that as well as having built up a  substantial
list of clients, Direct Broking had proven skills in Internet  trading and
website management and design.      It was one of this country's  leaders in the
move towards share trading on the Internet, Mr King said.  The  founder and
vendor of Direct Broking, Nigel Wynn, said he expected Direct  Broking would be
able to expand its service to clients under Dorchester Group  ownership.     
Direct Broking and Equity will continue to service their own  independent client
bases from existing premises in Wellington and Auckland.