DUNLOP RUBBER INTERESTS.

Evening Post, Volume CXVI, Issue 147, 19 December 1933, Page 14

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.