ARNOLD AND WRIGHT
Note Issue Planned (N.Z. Press Association) WELLINGTON. Mar. 13. Arnold and Wright, Ltd., plans an issue of 10s unsecured convertible notes at par in the ratio of one for every two ordinary shares held on a date to be decided upon. It is expected that the date will be about the third week in April. In addition to those notes offered to shareholders, an additional 4090 approximately are to be reserved for certain executive staff members. Interest Rate The notes will carry interest at the rate of 6J per
cent to October 31, 1968, when they will be converted into shares on a one-for-one basis. The notes will rank equally for all new issues including bonus issues. There will be renounceable rights. Present paid capital is £82.637, comprising £20,000 preference and £62,637 ordinary. The note issue is expected to raise £33,363, which on conversion will raise paid capital to £116,000.
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Bibliographic details
Press, Volume CIII, Issue 30390, 14 March 1964, Page 22
Word Count
153ARNOLD AND WRIGHT Press, Volume CIII, Issue 30390, 14 March 1964, Page 22
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