COMPANY AFFAIRS.

Auckland Star, Volume LXVIII, Issue 44, 22 February 1937, Page 4

COMPANY AFFAIRS.

REID (N.Z.) RUBBER.

NEW CAPITAL ISSUE.

The directors of Reid New Zealand Rubber Mills, Limited, have announced that the -balance of their share capital available for allotment, amounting to i.'Bfi4X in £1 shares, is to be offered for subscription.

Kxi.stint: shareholders are heing given the lirst opportunity of taking up these •shares. 1 o them tile shares will be available at par, the terms of payment being per share with application, 5/ per share on allotment and a further call of ;>■ per share to be made at the discretion of tiie directors, but not earlier than one month after the date of allotment. The .present intention is to call up only 1,3/ per share, thus keeping the new capital in line with the present contributing capital. Present shareholders have the l to take a portion of the new issue proportionate to their present liold-

At the last annual meeting of shareholders mention was made of the decision to extend considerably the of the company s manufactures. In pursuance ot this policy, considerable additions have been made to the factory buildings at Penrose, and the plant necessary for the production oi the new lines hae been onlei'ed. 1 his action is in accordance witli the policy of the, directors, it is stated, to extend gradually the size and scope of the undertaking; as it becomes ■clear that such extensions are in the interests of the company. '1 he shares of the company were quoted, cum. rights, to-day on the Auckland Stock Exchange among the unoflicial stock, buyers ottering 24 lor the 15/ paid shares.