Kearns to expand
Kearns Corporation, Ltd, the Christchurch finance company (formerly Kearns-Oatina), will expand its authorised capital in readiness for broader activity. At an extraordinary general meeting of the company yesterday, shareholders approved increasing authorised capital from $2 million to
S2OM; with $ll million ear-marked for issue as ordinary shares and seven million left unclassified. A million of the new shares will be placed at $3 each (the last traded price on the exchange was $3.25). A 1:1 issue will then be made to all shareholders at a premium of 50c.
The company says that despite lower direct taxation, there has been a large increase in demand for its service, consumer finance. The company has announced the appointment of two new directors: Mr John Anderson, of Auckland, and Mr Frederick Morris, of Christchurch.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19861224.2.84.2
Bibliographic details
Press, 24 December 1986, Page 10
Word Count
133Kearns to expand Press, 24 December 1986, Page 10
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.