Skyline will not seek listing

Press, 31 October 1979, Page 25

Skyline will not seek listing

f PA Dunedin 11 - Skyline Enterprises’prefer-! I - ence share issue will open. I on November 1, and accord-; i ing to one of the firm’s direc-h tors, Mr C. M. Broad, when I it closes on November 30 it! i should be fully subscribed. L The issue will be made upl. I of 250,000, 50c specified preference shares and will be 1 available to shareholders i registered by November' I?; I Mr Broad said that the | • money raised would be main- I :ly used for capital projects! such as the upgrading and ; renovation of the Skyline I Restaurant; some will also 11 be spent on the new Leisure 1 Lodge Motel in Dunedin. i He said that he expected i no trouble filling the nonrenounceable issue. I He said that any share not i taken up by members would ] find acceptance from other i

'members able and willing to take a larger allocation. Commenting on the trading performance of the company, Mr Broad said. “We are very pleased with trading during the last few months,. | which is ahead of the first! , six months of last year.” Skyline Enterprises is a tpurist-oriented firm operating out of Queenstown, and has around 300 shareholders predominantly in Otago and! Southland. During the last financial year sales and income totalled nearly $2 million, and itax-paid profit was $161,636.' Mr Broad said for the moment there were no plans to seek stock exchange listing for the shares to attract further capital. “We feel at the present moment the com-; pany structure suits us,” he said.