Alliance capital
PA ' ” ’ Dunedin 7 ’ At a meeting (lasting barely 20 .minutes' 'shareholders 7 ; of Alliance Textiles;; ttd, approved.. increasing.- the company’s nominal capital by ss.million to $15;850,000; in one of the last Esteps toward'the takeover bf Mosgiel Ltd. The extraordinary general meeting also approved the creation of two million 50c convertible preference shares and eight million 50c ordinary shares.
i | The preference shares and two million ordinary shares ' are tb‘be issued at par for [ cash to. the Development Fin- - ance Corporation. ■ > Another two million ordii nary shares were authorised i to be issued to the. Govern- - ment in the event that it elec-. ; ted to convert $1 million of I ■ debentures. II The issued capital is now ; $6.1 million but it was point- ; ed out that the rest is re- •; quired to facilitate further i rationalisation.
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Press, 2 September 1980, Page 24
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137Alliance capital Press, 2 September 1980, Page 24
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