CHH flags purchase of 5 percent of Straightedge

Carter Holt said the plan was to buy 4 million shares at 50c per share, the price Straightedge listed at on the New Capital Market.

Following the allotment, Carter Holt would hold 23 percent of the total issued shares in Straightedge.

The purchase is subject to shareholder approval, some employee transfers and on Straightedge raising no less than $4.1 million in its public offering. The planned date of transaction is July 29.

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