$6m Premium Issue
(N.Z. Press Association) MELBOURNE, May 20. Mid-Eastern Oil, N.L., plans to raise a tota’ of $6.06m through a one-for-two premium issue. The company will offer 10 million new 50c shares at 60c each. The payment on application, 20c a share, will raise $2.02m. The directors say the remaining 40c will be payable in calls when required. The issue will go to holders
of fully paid and contributing shares who are registered on June 11. It will be underwritten by the Melbourne sharebroking firm of Donaldson and Lynch. In the company’s interim report in March, the chairman (Mr J. G. Donaldson) said Mid-Eastern might soon have to raise more funds to sustain its offshore search. This was because of the increasing tempo of the offshore search and the board’s desire to increase the company’s areas of activity.
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Bibliographic details
Press, Volume CIX, Issue 31993, 21 May 1969, Page 19
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139$6m Premium Issue Press, Volume CIX, Issue 31993, 21 May 1969, Page 19
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