Email to raise $7m
(N.Z. Press Assn — Copyright) SYDNEY, Feb. 8. Email, Ltd, plans to raise more than S7M in a two-for-five issue of 50c shares at a premium of 70c a share to finance the acquisition of Metters Appliances, Pty, Ltd. The acquisition of Metters will take effect on April 1 and cost Email about $6.85M. Email recently purchased Grimwood Electrical Appliances Pty, Ltd, for sl.6m. Metters and Grimwood were part of General Industries Ltd, which was taken over by Walloo Pty, Ltd, in 1972 for $12.9m. Email has bought the respective trade names of Met? ters and Grimwood. The acquisition of Grimwood will enable Email to expand the manufacture of electrical tubular elements for commercial and industrial heating and cooking.
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Bibliographic details
Press, Volume CXIV, Issue 33455, 9 February 1974, Page 11
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122Email to raise $7m Press, Volume CXIV, Issue 33455, 9 February 1974, Page 11
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