N. CROPPER DEB. ISSUE
Three Terms Offered (N.Z. Press Association) AUCKLAND, Sept. 1. Neill, Cropper Holdings, Auckland merchant, manufacturer and flourmiller, will seek £350,000 from the public in a debenture issue, with right to accept over-subscrip-tions for a further £lOO,OOO. Interest rates will be li per cent for five years, 6J per cent for 10 years, and 7 per cent for 15 years. The issue to the public is part of an issue of £750,000, of which about £400,000 will be used to redeem mortgages. These totalled £540,932 at March 31. The only other term liabilities at that date were unsecured convertible notes totalling £154,887, which convert to ordinary shares at par at the end of next year. Brokers to the issue are Buttle, Wilson, Rutherford and Company, members of the Auckland Stock Exchange. The prospectus is expected to be available before the end of this month.
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Bibliographic details
Press, Volume CVI, Issue 31154, 2 September 1966, Page 14
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147N. CROPPER DEB. ISSUE Press, Volume CVI, Issue 31154, 2 September 1966, Page 14
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