DUNLOP RUBBER INTERESTS.
The Dunlop Rubber Co., Ltd., England, which holds an interest in the DunlopPerdriau Rubber Co., Ltd., Melbourne, has decided to make a redemption offer in regard to £4,366,987 s]& per cent, debentures,- holders being given the option of taking either cash and scrip or cash only. The result will be a reduction in the debenture debt to £2,620,200 in 4 per cents., and the operation will result in a saving in interest o£ 'over £100,000. In acircular to holders the company mentions that it has the erigbt to give notice on January 1 next for the repayment of the stock on January 2, 1935, at 105 per cent. The directors have decided to exercise this right. In order to provide for the redemption, £3,500,000 4 per cent, debentures stock, 1944-74, will be created, o£ which £2,620,200 will be issued at par, the balance of £879,800 remaining unissued. Approximately £2,000,000 required to complete the redemption of the existing stock will.be-provided out of the cash resources of the company, which are extensive.
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Evening Post, Volume CXVI, Issue 147, 19 December 1933, Page 14
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173DUNLOP RUBBER INTERESTS. Evening Post, Volume CXVI, Issue 147, 19 December 1933, Page 14
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