GENEROUS TERMS
Marac issue | at 100 c Marac Holdings. Ltd, has iannounced a cash issue to of one share, | for every two shares at 1 [present held. A feature of the issue is | that the shares are being' issued at par and with Marac shares being traded at about 250 c there is a bonus - element in the issue. ; The issue will raise s2m ’ and will increase paid capi- ! tai to s6m. I j Marac is a major finance ' [ group in New Zealand with J interests in merchant bankring, international trade fi- ' I nance, and consumer and ' I commercial finance. ’I The proceeds of the issue [ will provide additional capi- ’ tai for the group's New ZeaJ land and overseas sttbsiI I diaries. "| The new shares do not ‘(rank for any dividend de‘i dared in respect of the 1973-74 financial year, but 3 thereafter the new shares 1 will rank equally with other capital. The directors say that they expect that the 15 per cent dividend rate will be maintained on the new capital, given the continuation of reasonable economic conditions. Existing shares will be exirights on February 13.
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Bibliographic details
Press, Volume CXIV, Issue 33455, 9 February 1974, Page 11
Word Count
188GENEROUS TERMS Press, Volume CXIV, Issue 33455, 9 February 1974, Page 11
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