ADSTEAM TO ACQUIRE 49 PCT OF U.K. PROPERTY COMPANY The Adelaide Steamship Co Ltd <ADSA.S> (Adsteam) said it will subscribe to 30 mln shares in listed British property developer, <Markheath Securities Plc>, at 60p each, subject to shareholder approval. The subscription, expected to take place in May, will give Adsteam 49 pct of Markheath, Adsteam said in a statement. Adsteam's managing director John Spalvins will become chairman of Markheath and two other Adsteam nominees will join its board. "We hope that in time Markheath will become a significant property and industrial company in the same style as Adsteam," Spalvins said in the statement.