Debenture issue
(N.Z. Prtti Atuciatiou) £ AUCKLAND, August 4. Phillipps and Impey, Ltd, Auckland paint, glass am wallpaper merchant, will offer a top rata of 8} per cent in a $600,000 debenture issue. The company will have the right to accept oversubscriptions of $150,000. The funds are required for the general expansion of the company and its subsidiaries and to cover the cost of the new administrative Meek in Newmarket. Interest rates offered are: live years; 7} per cent, seven years, 7| per cent, 10 years, 8| per cent, and 15 yean, *< per cent, the prospectus will. be issued on August 26. At the last balance date, on August 31. the company had term liabilities, all mortgages, of $295,000 compared with shareholders' funds of $3,343,872. Shareholders’ equity was 68.2 per cent.
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Bibliographic details
Press, Volume CXI, Issue 32677, 5 August 1971, Page 16
Word Count
130Debenture issue Press, Volume CXI, Issue 32677, 5 August 1971, Page 16
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