NEW OFFER BY C.S.I.
Options To Be Acquired
Credit Services Investments has made a new offer to the shareholders of Keams-Oatina, the chairman of Keams-Oatina (Mr I. McW. Harkness) said at the week-end. The offer contains the terms of the earlier offer plus a plan to acquire options to purchase all shares other than those accepted under conditions similar to the previous offer. Previously 15s casr or the equivalent in Credit Services 6j per cent three-year-deben-tures was offered for each 20s Kearns-Oatina share. Alternatively five 5s Credit Services shares were offered in exchange for each two Kearns-Oatina shares.
The sellers of options under the terms of the new offer will receive 5s in cash per share within 14 days of the offer becoming unconditional and in addition Ils in cash a share for options exercised before April 30, 1968. If Credit Services exercise the options after that date, but before April 30, 1969, 12s cash per share will be given for each Kearns-Oatina share. The maximum term of the options is limited to April 30, 1969. The new offer is conditional upon the acceptance of 51 per cent of the issued share capital of Kearns - Oatina, either as shares or as options. A meeting of Keams-Oatina shareholders to discuss this offer will be held on October 5. 4
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19660919.2.193
Bibliographic details
Press, Volume CVI, Issue 31168, 19 September 1966, Page 21
Word Count
218NEW OFFER BY C.S.I. Press, Volume CVI, Issue 31168, 19 September 1966, Page 21
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.