Company News CYCLONE IND. MOVE
New Issue And Share Split
The board of Cyclone Industries (N.Z.), Ltd., is recommending an increase in capital and a new> issue, subject to a meeting of shareholders being called for September 29. “The increase proposed is to a nominal capital of £500,000 in ordinary share capital of £400,000 and preference capital, as at present, of £100,000,” says a statement by the company. The proposed issue is £34.000 on the basis of one-for-5 at a premium of 2s 6d a share, including the present registered unsecured convertible debentures. The new shares will carry renunciation rights and will rank for dividend from April 1 next year. The board is also recommending that on the completion of the arrangements the ordinary shares should be split into 5s units.
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https://paperspast.natlib.govt.nz/newspapers/CHP19610826.2.227
Bibliographic details
Press, Volume C, Issue 29602, 26 August 1961, Page 17
Word Count
131Company News CYCLONE IND. MOVE Press, Volume C, Issue 29602, 26 August 1961, Page 17
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