V’PAC OTAGO DEBS.

Press, Volume CI, Issue 29909, 24 August 1962, Page 15

V’PAC OTAGO DEBS.

Conversion Or Cash Offer

Holders of debentures In Vibrapac (Otago), Ltd., recently taken over by Vtbrapac Blocks, Ltd., Christchurch, will be offered the option of a cash redemption or conversion into new debentures. An announcement from the Christchurch company says that directors have considered the position of the 5j per cent, mortgage debenture issue of Vibrapac (Otago), Ltd., maturing September 30. 1962. and the situation which arises from the acquisition of the ordinary capital of that company by Vibrapac Blocks.

"This advice is to serve as a preliminary anouncement of the intention to offer debenture holders cash on September 30, 1962, or the right to convert into an issue of £40,000 6J per cent, mortgage debenture issue maturing September 30. 1967. “The whole of this proposed issue will be firmly underwritten by a large institution,” the report adds.

Aust. Fertilisers.—Net profit of Australian Fertilisers. Ltd., sulphuric acid and fertiliser maker, rose by £20.726 or 12 9 per cent, to £180.958 for the year ended June 30. Dividend is steady at 8 per cent. David Syme Div.— David Syme and Company, Ltd., publishers of the "Age. today, announced a final ordinary dividend of 5 per cent., making a steady 10 per cent, for the year. The Anal preference dividend of 3J per cent makes a steady annual 6 per cent.—(N.Z.P.A.)