WAITOMO CEMENT
Capital Doubled, ~ Shares Split
(New Zealand Press Association) AUCKLAND, October 14. Nominal capital of Waitomo Portland Cement. Ltd., Auckland, was increased from £500:000 to £lm at a special .meeting of shareholders this morning. The new capital will be divided into two million ordinary shares of 5s each, ranking pari passu with the existing ordinary shares, which the meeting decided should be subdivided into two million ordinary shares of 5s each. This will give the company four million 5s shares,’ of which £400,000 is in paid, up capital. The company will issue a prospectus for a cash issue at par, probably next week. This will involve 1.6 m 5s shqres, which will be offered to shareholders in the ratio of one .new share for every share held.
The new capital is required for an expansion programme involving the purchase of a wet-process rotary kiln and new equipment, valued at approximately £500.000.
Prestige (New Zealand) Dividend.—Prestige (New Zealand), will pay the interim’ preference dividend of 3 per cent., on November 1.
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Bibliographic details
Press, Volume XCIX, Issue 29336, 15 October 1960, Page 11
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171WAITOMO CEMENT Press, Volume XCIX, Issue 29336, 15 October 1960, Page 11
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