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Article: TEMPO SERVICES CHAIRMAN REDUCES STAKE IN GROUP.
- Article from:
- AsiaPulse News
- Article date:
- September 17, 2003
CopyrightCOPYRIGHT 2003 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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SYDNEY, Sept 17 Asia Pulse - Tempo Services Ltd (ASX:TEM) chairman John Schaeffer has reduced his stake in the cleaning and security group but has taken steps to ensure he remains the company's majority shareholder.
Mr Schaeffer now holds 30 million shares or a 30 per cent stake in Tempo after reducing his shareholding by 2.5 million shares.
"I am pleased to have finalised these new arrangements," Mr Schaeffer said in a statement.
"The restructure of these financial facilities through the securing of other assets will materially reduce my borrowings while retaining approximately 90 per cent of my previous shareholding."
Mr Schaeffer's ...