C.S.R. pays $8.8m to unconverted
CSR. Ltd. is having to pay oat more than sAustB.Bm to unsecured note-holders who failed to convert the notes into debentures after they matured on December 31. Only 78 per cent of the s4om in unsecured notes was converted, of which $2l m was converted into 5? year debentures at 12.25 per cent, and slom to 2} year debentures at 11.75 per cent. No new cash subscriptions) were accepted.
This season’s sugar production would not be up to the expectations expressed in the interim report on December 17, CSR informed the Sydney Stock Exchange. In the interim the company said that CSR and Australian Estates should make about the same tonnage of sugar as the previous season’s 836.000 tonnes..
This forecast has now been reduced to 815.000 tonnes. At .lanuarv 2. total production stood at 810,000 tonnes
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Bibliographic details
Press, Volume CXVI, Issue 34046, 9 January 1976, Page 11
Word Count
142C.S.R. pays $8.8m to unconverted Press, Volume CXVI, Issue 34046, 9 January 1976, Page 11
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