SOUTHERN MOTELS
Prospectus Filed (N.Z. Press Association) DUNEDIN, June 18. A prospectus, inviting applications for the subscription of £lOO,OOO in 5s shares, has been filed by Southern Motels (N.Z.) Ltd., to enable the company to proceed with its original plan to erect a modern motor-hotel in Alexandra. This was announced today by the chairman of the provisional directors of the company (Mr R. S. M. Sinclair), in Alexandra. Mr Sinclair said that the Government has approved Alexandra as a suitable site, and the proposed structure suitable to justify Government assistance. Efforts two years ago to raise fiifids for the project were unsuccessful. Mr Sinclair said that the company had been offered a loan of £45,000 to assist -in financing the project, subject to sufficient further money being subscribed, and to a suitable licence for the sale of liquor being granted. While the plans of the company . are . the same as those previously announced, the whole scheme has been the subject of a full financial investigation on behalf of the Government, and a more accurate picture obtained of its costs and prospects.
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Bibliographic details
Press, Volume CIII, Issue 30471, 19 June 1964, Page 15
Word Count
181SOUTHERN MOTELS Press, Volume CIII, Issue 30471, 19 June 1964, Page 15
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