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RBD market stand completed

By Phil Boeyen, ShareChat Business News Editor

Wednesday 1st November 2000

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Deutsche Securities has completed its stand in the market for Restaurant Brands ordinary shares in just one day despite setting aside five days for the purchase.

Deutsche Securities went to the market early this morning for 13.8 million shares in the fast food company at $1.25 on behalf of AMP Henderson Global Investors. The price was an 18 cent premium to Tuesday's closing price of $1.07.

Today's stand occurred on a 'Special Board' and according to stock exchange rule the broker handling the market stand had to buy 20% on market but could buy the remaining 80% from its own clients. It's understood orders immediately filled the required 20% or 2.76 million shares on market.

Restaurant Brands says it welcomes AMP Henderson Global Investors as a quality shareholder.

RBD closed Wednesday up 12 at $1.19.

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