RUMOURED OFFER.

Ashburton Guardian, Volume 54, Issue 256, 10 August 1934, Page 6

RUMOURED OFFER.

FREEZING WORKS AT KAI-APOI. QUESTION OF DISPOSAL. (Special to the "Guardian.") GHRISTOHURCH,, This Da. It is believed in well-informed quarters that an offer has been made to purchase the freezing works at Kaiapoi owned by the North Canterbury Sheep Farmers' Co-operative Freezing Company. The buyers are not definitely known, but it is understood that the offer was made some time ago to the directors, and as no finality has yet been (reached, it is rumoured that the shareholders will soon be called together and the matter discussed with them. The company has been in operation since the beginning of the war, when it was organised as an outlet for farmers' produce. The capital was subscribed about equally between country and city. Tho authorised capital was £200,000, of which £141,425 has been subscribed, and £84,855 paid up. The shares are of a nominal value of £5, of which £3 has been paid up, leaving a liability of £2. It is believed that the lease of the works, held by Sims, Cooper, Ltd., has approximately five years yet tor run. The shares were quoted yesterday at 16s buyers, and £1 Is sellers, and it is understood that the price offered for the purchase of the works is substantially above the sellers' figure quoted yesterday.