NOTE ISSUE BY TV FIRM
Move By Group Rentals (N.Z. Press Association) AUCKLAND, March 26. The issue of 200,000 unsecurefl convertible notes of £1 each by. Group Rentals New Zealand, Ltd, Wellingtonbased television set rental company, will be made next month, the chairman, Mr K. V. Coe, .announced. today. The notes, to be* issued- at par, will , beat 5J per cent interest. "
They will convert into ordinary £1 shares in .the ratio of one*for-ene on March 31, 1969,-and will participate in cash and bonus issues. Present Capital Present paid capital of the company is .£90,000, while 3O,tfQo shares have been reserved for issue to the original shareholders up to the date 'of conversion* on such terms as the. directors may decide. . •
Principal shareholders inelude Grois Rentals; Ltd, a Subsidiary of Bond and Bond, Ltd., Dominion Radio and Electrical Corporation, Ltd, New Zealand United Cbrporation, Ltd, and General Finance, Ltd. . ■ The issue will be underwritten by Daysh, Renouf and Company,. members of the Wfellinton. Stock Exchange.
Official Stock Exchange listing for the notes will b.e sought • ■ ■
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Bibliographic details
Press, Volume CIII, Issue 30401, 28 March 1964, Page 18
Word Count
175NOTE ISSUE BY TV FIRM Press, Volume CIII, Issue 30401, 28 March 1964, Page 18
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