Coast Concrete Plans Flotation

Press, Volume CIII, Issue 30447, 22 May 1964, Page 17

Coast Concrete Plans Flotation

Plans to establish a concrete manufacturing industry at Greymouth 'are under way with the registration at Hokitika of Coast Concrete, Ltd., a public company with authorised capital of £lOO,OOO.

a In the first major flotation by a West Coast company for some years, Coast Concrete will issue a prospectus early next month seeking £97,500 in 390,000 5s shares. Directors of the company have already subscribed for 10,000 5s shares in cash. The company aims tp produce aggregate, ready-mixed concrete, blocks, bricks, field pipes, polished slabs and tiles.

Later the company will manufacture precast concrete bridge piles, deck slabs, power poles and other prestressed products. When the prospectus has

been issued the 5s shares will be payable 2s on application, Is on allotment and the balance within 12 months after allotment in calls not exceeding Is at intervals of not less than three months. Directors are: Messrs A. Dalziel < chairman) Greymouth departmental manager; H. H. Barrs, Christchurch consulting engineer; W. Dodds Lyttelton company director; A. H. McMaster, Christchurch building consultant; G. K. McMaster, Greymouth company director; R. C. NeviUe, manager of British Pavements (Canterbury), Ltd., and chairman of Andrews and Beaven, Ltd.; P. E. L. Renton, Hokitika company director; and W. H. Roche, president of .the Westport Trotting Club. General Manager

Mr A. H. McMaster will be the company’s general manager.

The minimum which must be raised, in the opinion of the directors, is £70,000. Application will be made for quotations of the shares on the Stock Exchange official list and the Christchurch Stock Exchange has authorised members to act in the flotation.