McConnell Dowell Corporation has announced a proposal for schemes of arrangement which would result in its ultimate 63% major shareholder, Aveng Ltd, moving to 100% ownership. Under the proposed scheme, shareholders will receive $1.54 for each share owned. Under a separate scheme of arrangement, optionholders will be offered $0.20 for each of their options. The schemes of arrangement must be approved minority shareholders and optionholders and the Federal Court of Australia.

Andrew Dodman, director of Anzoil, has acquired a further indirect interest in the company of 500,000 ordinary shares, at a total value of $10,409.50.

Methanol Australia director, Geoff Albers has increased his indirect shareholding by 145,600 shares to a total of 29,987,854 for a cost of $17,721.50.

Stephen Gerlach has paid $5.57 per share for an indirect interest in an additional 5,000 shares in Santos Ltd. The Santos director now holds 37,305 fully paid ordinary shares after the change.

Two directors of Norwest Energy have increased their holding in the company. David Kennedy now has a direct interest of 72,500 shares and a portfolio of indirect interests. Thomas O'Meally has increased his holdings to include 82,500 fully paid shares and a portfolio of indirect interests.

Advanced Energy Systems advises that director Walter James has sold 500,000 ordinary shares for a consideration of $75,000. He continues to hold an interest of 4,559,043 ordinary shares.