Goliath revamp
Goliath Mining, Ltd, has called an extraordinary general meeting for March 7 at Greymouth to consider a proposal to issue and allot 7.5 M ordinary shares of 25c each to South Pacific Merchant Finance, Ltd.
In a letter to shareholders yesterday, the chairman of the company, Mr D. 0. Walker said that the issue “will provide considerable assistance in enabling the company to meet liabilities incurred for mining and development expenditure.” As a consequence, the company’s issued capital will increase to 27,016,070 25c ordinary shares.
Mr Walker said the directors would strongly recommend to shareholders that they supported the steps being taken by the directors to restructure the company.
Goliath advised the Stock Exchange earlier this month to sell major items of mining equipment owned by the company.
Independent professional valuations were in the process of being prepared on all items, and assets were expected to be disposed of at those valuations on a staged basis during the next few months.
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Press, 20 February 1986, Page 25
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163Goliath revamp Press, 20 February 1986, Page 25
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