WELLINGTON GAS CO.
NEW DEBENTURE ISSUE
. The directors of the Wellington Gas Co., Ltd., propose to. issue-at par £200,000 in 6% per. cent, debentures. The proposal will be submitted to'shareholders at a meeting rto be held next week, when authority will be sought to borrow moneys in excess of the limit of £150,000 imposed by clause 43 .of. the' Articles of Association and to secure the moneys so borrowed in such manner as the directors think proper. But the limit of the authority for which the sanction, of the shareholders is to be sought shall not exceed £350,000. The existing 6% per cent, debentures, amounting to approximately £200,000, mature Ist October next, and the proceeds of the new issue will be applied to their redemption, and it is the intention of the directors to confine the present issue to £200,000 of the £350,000 for which' authority is to be asked/ The new debentures will be first offered to present holders of the 6'A per cent, issue, and the balance, if any, to public subscription.
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https://paperspast.natlib.govt.nz/newspapers/EP19310428.2.177
Bibliographic details
Evening Post, Volume CXI, Issue 98, 28 April 1931, Page 12
Word Count
174WELLINGTON GAS CO. Evening Post, Volume CXI, Issue 98, 28 April 1931, Page 12
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