BIG BREWERY MERGER.

Otago Daily Times, Issue 18898, 26 June 1923, Page 8

BIG BREWERY MERGER.

£1,000,000 10 PER CENT. MORTGAGE DEBENTURE STOCK OFFERED TO PUBLIC. What is perhaps the biggest industrial flotation ever carried through in the dominion is tlie formation of New Zealand Breweries (Limited) —an amalgamation of 10 of the largest and most successful .brewery businesses in the country. Tho breweries acquired comprise:— Speight’s, Strachan’s, M‘Gavin’s, The Crown, Ward’s, Manning’s. Staples’, Barry’s, The Lion, and Hancock’s. The capital of the new company is £1,500,000, and applications are invited from the public for £1,000,000 10 PER CENT. First Mortgage Debenture Stock. The investment has numerous attractive features. In tho first place, the issue is secured by a trust deed in favour of the N.Z. Insurance Co.. (Ltd.), as trustees for the debenture holders. This constitutes a first specific charge on the freehold properties of the company, and a first floating charge on all its assets and undertakings. Interest is to be payable quarterly, free of exchange and free of income tax as provided in the prospectus. The Now Zealand Insurance Co. (Ltd.) will guarantee the payment of interest for three years. Tho assets of the company have been valued by competent authorities, and tho supporting figures are given fully in the prospectus, which is a comprehensive and interesting document of 20 pages. It should ho read by all who arc looking for a sound investment The prospectus may be obtained from, and applications for debentures may be made to, any member of a. Stock’ Exchange affiliated to tho Stock Exchange Association of N.Z., the local banks, offices of any of tho vendor companies, or the interim secretary. Accountants’ Chambers, 39 Johnston street, Wellington.—Advt.