Farmers Meat issues prospectus
PA Dunedin The prospectus for Farmers Meat Processors, Ltd. which will be connected with the Dunedin Master Butchers' Association abattoir at Burnside, was released yesterday. The company aims to offer year-round killing facilities to Otago farmers; and the issue of shares is restricted to them. Farmers Meat Processors is offering 2.945.000 100 c shares, payable to 10c on application. The balance is payable over nine years, though the directors calcu-
late that earnings will take care of that 90c a share, plus servicing of a $2.7M loan from the Meat Board which makes the arrangement possible. The purpose of the issue is to provide funds for the company to subscribe for 1,957,000 shares in the D.M.B.A. for a total consideration of $2,936,250. The issued capital of the D.M.B.A. will then be increased to $4,350,000 to provide for the allotment of shares to Farmers Meat, which will then hold 45 per cent of the issued capital of the D.M.B.A.
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Press, 4 March 1982, Page 21
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162Farmers Meat issues prospectus Press, 4 March 1982, Page 21
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