Page 5 Advertisements Column 3

Press, Volume LXXXII, Issue 24901, 14 June 1946, Page 5

This advertisement Is not Intended as an offer of shares for public subscription. Persons Interested are referred to the Prospectus dated sth June, 1946, which has been filed with the Registrar of Companies, and copies of which may be obtained from the Brokers mentioned at the end of this advertisement. KORMA TEXTILES (N.Z.) LTD. (Incorporated under "Tfce Companies Act, 1933.’’) » AUTHORISED CAPITAL £<oo,ooo Divided into 276,600 Ordinary shares of Si eaeh and 125,000 5% Cumulative Preference shares of £1 each, of which 125,000 Ordinary shares have been issued, and 125,000 5% CUMULATIVE PREFERENCE SHARES WILL BE ISSUED AT PAR, (The issue of Preference shares has been wholly underwritten by Industrial Under- * writers New Zealand Limited.)

James Alexander Gentles, of Auckland, Public Accountant (Chairman): Francis Leveson-Gower West, of Auckland, BarTister and Solicitor; Kenneth Colin Campbell, of Wellington, Company Director: Stanley Korman, of Melbourne. Managing Director of Centenary Woollen Mills Pty. Limited, Melbourne; Hilel Korman, of Auckland, Managing Director of Korma Mills Limited, Auckland. INCORPORATION OF KORMA TEXTILES (N.Z.) LIMITED: Korma Textiles (N.Z.) Limited was registered on the 6th day of May, 1946, as 2 public company with an authorised capital of £400,000. and has carried into effect an agreement dated 18th April. 1946, to Eurchase all the shares in Korma Mills imited for a total consideration of 75.000 fully paid Ordinary shares of £1 each in the new Company. The Vendors have subscribed for and paid for in cash, an additional 50,000 Ordinary shares of £1 each at par. Korma Mills Limited will continue operating as a manufacturing and trading subsidiary of Korma Textiles (N.Z.) Limited, the holding company, whose Board of Directors will direct and control the affairs of botlj Companies. OBJECTS OF THE ISSUE: The purposes of the issue of Preference shares are. in general, to provide immediate capital requirements tn connexion with a proposed major expansion of the woollen manufacturing business carried on by the subsidiary operating company. Korma Mills Limited. The proposed development of the industry Includes the building of large modern textile mills and

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