AUCKLAND GAS CO.
REDEMPTION PROPOSED
(By Telegraph)
(Special to the " Evening Post.") AUCKLAND, February 4. The Auckland Gas Company's 6% petcent, debenture issue of £200,00p, maturing on Hay 1, will be redeemed at that date. Speaking at the annual meeting of shareholders today, Sir George Elliot chairman of directors, said the board intended to pay off the loan at the due date, and none of the debentures would be reissued.
The loan was issued in 1928, £150,000 being required to replace the issue of debentures then falling due, and £50,000 being for development expenditure. The issue was over-subscribed by £129,500, or 65 per cent. After repayment of the loan the company's only debenture capital . will be £80,000 in 6 per cent, debentures maturing in 1942.
The debentures have not been , quoted on the Auckland Stock; Exchange this year, the last sale being at £104 in September, 1934.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/EP19350205.2.127.21
Bibliographic details
Evening Post, Volume CXIX, Issue 30, 5 February 1935, Page 12
Word Count
147AUCKLAND GAS CO. Evening Post, Volume CXIX, Issue 30, 5 February 1935, Page 12
Using This Item
Stuff Ltd is the copyright owner for the Evening Post. 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.
Log in