Staff Reporters

SHAREHOLDERS of Perth-based Foodland Associated Limited have received an increase in the price offered by takeover hopeful Metcash Trading, valuing the company at approximately $1.1 billion.

SHARES in local listed junior Polaris Metals closed 17.5 per cent at higher after the release of encouraging magnetic test results from its Bullfinch iron ore project, 40 kilometres north-west of Sout

Proposed code: CDZ Issue price: $0.20 Principal activities: Gold, silver and metal based projects.

Young Poong Corporation became a substantial shareholder with a relevant interest of 9,599,375 ordinary shares.

Metcash has increased both its cash and scrip offer for Foodland Australia and offer is scheduled to close on 21 May 2005.

A new super booklet will help Australians to understand more about their retirement nest egg, make informed financial decisions, and maximise their superannuation savings.

Financing company Capital Finance Australia Limited has appointed Roy Costigan as state manager for Western Australia. Capital Finance is a member of the HBOS Australia group of companies.

FARSANDS Solutions, a WA-based risk management consultancy, has acquired a controlling interest in the Perth-based project, property and events management company, APP (WA).

Issue price: $0.20 Principal activities: Nickel exploration. Corporate: Shane Sadleir (managing director); Michael Young (non-executive director); Stephen Brockhurst (non-executive director).

Rivkin Financial Services Ltd ceased to be a substantial shareholder.

Farooq Khan increased its relevant interest from 14,993,048 ordinary shares (14.946%) to 20,045,019 ordinary shares (19.983%).

Announced the acquisition of 66 per cent of the Perth-based project, property and events management company, APP (WA) Pty Ltd (APP).

The Ciara Glennon Memorial Law Scholarship at the University of Western Australia has been awarded to fourth year law student, Sholeh Jones.

COLLIERS International has been appointed to sell three restaurant premises.

Katherine Ginbey has been appointed public relations and marketing manager for Godfrey Pembroke Financial Consultants, following the move of Elizabeth Cassidy to law firm Minter Ellison.

Accounting Practice Western suburbs, annual fees of $200k approximately, with client base of approximately 40. Anthony John 9443 7171 Schultz Partners Accounting Practice Price $450,000

Proposed code: WTR Issue price: $0.20 Principal activities: Expanding water market for the treatment and purification of potable and waste water.

Arredo Pty Ltd became a substantial shareholder with a relevant interest of 3,253,201 ordinary shares (16.2%).

Closing date for SPP has been extended from 6 May 2005 to Wednesday 11 May 2005.

Announced the placement of 5,025,000 fully paid ordinary shares at 10 cents each to United Kingdom and Australia based investors to raise $502,500.

For now the Cloughs tentatively remain the largest shareholder in the engineering company that bears the family name. But that is set to change.

The City of South Perth has appointed Cliff Frewing as their new chief executive officer.

PROPERTY developer Peet & Company has closed its $16.8 million capital raising for a Melbourne residential land syndication project ahead of schedule after it was oversubscribed, said the company.

Code: ECH Issue price: $0.20 Principal activities: Gold and base metals exploration.

Queensland Investment Corporation ceased to be a substantial shareholder.

Central Exchange Ltd increased its relevant interest from 14,993,048 ordinary shares (14.946%) to 20,045,019 ordinary shares (19.983%).

Has entered into an agreement with Norwegian company, Solstad Cable UK Limited, for the long-term charter of the ex. cablelay ship “Normand Clipper”.

Column headings have been added to the Income tax lodgment report and the Outstanding activity statement report available on the Tax Agent Portal.

LAST week, WA Business News reported on an acquisition by Novacoat Holdings of the business assets of Sydney-based engineering, construction and maintenance group McFee Holdings.

The Dampier to Bunbury Natural Gas Pipeline (DBNGP) group has announced the appointment of Stuart Hohnen to the position of executive chairman.

A FUNDRAISER for imprisoned Australian tourist Schapelle Corby will be held on Sunday May 15 at the Claremont Hotel.