NEW MOVE BY PRESTIGE

Press, Volume CIII, Issue 30406, 3 April 1964, Page 15

NEW MOVE BY PRESTIGE

Placement Of Pref. Shares (N.Z. Press Assn.—Copyright) MELBOURNE, April 2. Prestige, Ltd., makers of hosiery, lingerie and fabrics has made arrangements for a placement of £580,000 of 6j per cent redeemable preference shares of £1 each. The issue will provide the long-term finance required for the purchase of the ordinary share capital of Holeproof Industries, Ltd., while maintaining a sound ratio between shareholders’ funds, and borrowed money. The placement, which will need shareholders’ approval of amendments to the company’s articles, follows a three for five cash issue of 5s ordinary shares at a premium of 4s each, earlier this year which raised £1,091,716.

Factors To Pay 11 p.c. On Loan (N.Z. Press Assn.—Copyright) MELBOURNE, April 2. Factors, Ltd., will pay interest at 11 per cent annually on its £l.Bm recovery loan from hire-purchase operator Commercial and General Acceptance, Ltd. Factors used this loan last week—along with the £3.5m proceeds of the sale of Holeproof Australia—to free itself of all debts and emerge from its year-old receivership. Kaniere Gold (From Our Own Reporter) GREYMOUTH, April 2. Moving 362,000 cubic yards of spoils the Kaniere gold dredge won 539 ounces of bullion from the Taramakau river valley last month. The dredge worked 471 hours.