Company News C.O.P. SHARE ISSUE
Three-For-20 Ratio
Cash Order Purchases, Ltd., Christchurch cash order and finance company, plans to issue 24.000 new 5s shares on a three-for-20 basis, according to a letter sent to shareholders yesterday.
Directors say that because of increased business being handled by the company it is considered the best way to make funds available is by the issue of new shares. These will be offered to shareholders on the company's books yesterday at a premium of 3s 4d a share on the three-for-20 .basis. Payment may be made either in full on application or by half the total amount with the application and the balance on or before August 31. The new shares will rank for dividend from August 1.
Applications for the issue close on June 30 and any shares not taken up will be disposed of by the directors in the way they think most beneficial to the company.
Renunciation forms are incorporated in the application form for the issue and rights may be traded on the stock exchange.
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Bibliographic details
Press, Volume C, Issue 29508, 9 May 1961, Page 19
Word Count
175Company News C.O.P. SHARE ISSUE Press, Volume C, Issue 29508, 9 May 1961, Page 19
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