FARMERS’ CO-OP

Press, Volume CVIII, Issue 31865, 18 December 1968, Page 24

FARMERS’ CO-OP

Trust Deed Is Amended The New Zealand Farmers' Co-operative Association of Canterbury, Ltd, yesterday amended the trust deed relating to the company’s stock. A resolution to that effect was passed unanimously by a meeting of stockholders.

All stockholders whose parcels mature in 1969 may now choose either the repayment of their holding on maturity, or its reinvestment for another term. Three classes of stock are offered by the company: 61 per cent interest with a maturing date on July 31, 1975, 61 per cent maturing on July 31, 1978, and 7} per cent maturing on July 31,1981. Application forms offering these choices will soon be posted to stockholders with holdings maturing before March. For holdings maturing later, forms will be sent within a reasonable period before maturity date. The company will make similar offers to stockholders with parcels maturing later than 1969. However, no stock may be reinvested to mature later than 1981.

The resolution also approved an increase of the rate of interest to 6.2 per cent on all holdings maturing after January 31. The increased rate will be in force from February 1.