Company News N.Z. PACKING CORPORATION

Press, Volume XCV, Issue 28314, 27 June 1957, Page 17

Company News N.Z. PACKING CORPORATION

Allotment Basis Announced (New Zealand Press Association) AUCKLAND, June 26. AIL the 1698 applicants who applied for shares in the New Zealand Packing Corporation, Ltd., will receive allotments. This was announced by the chairman of directors (Mr J. R. Rutland) today. The company went to allotment this morning. Mr Rutland stated that the issue of 299,950 ordinary £1 shares closed on June 17 “substantially oversubscribed.” In accordance with the prospectus the shares were allotted with a view to providing for the widest possible shareholding. A total of 61,350 shares has been reserved for growers supplying the company, underwriters and directors, leaving 238,600 shares available for the general public. Those who applied for 50 to 100 shares will receive their allotments in full; applicants for 150 to 450 shares will receive 150 shares, and applicants for 500 to 950 shares have been allotted 200 shares. Those who applied for 1000 shares or over have been allotted 200 shares, but each applicant in this group has been included in a ballot for further lots of 50 shares each. It is expected that allotment letters, with refunds where applicable, will be forwarded to shareholders this week, and that share cetrificates will be issued promptly after allotment moneys have been received.