VIBRAPAC BLOCKS
Further Issue Possible Vibrapack Blocks, Ltd., Christchurch. directors say it “may become necessary to the company’s normal operations to make a farther capital issue within the next 12 months." They made this statement in a circular to shareholders giving details of the current new share issue. They are now considering several special projects, each of which will need “substantial expenditure.’’ None of them is included in the present issue, the proceeds from which will be used entirely to expand production and selling capacity in Christchurch and Timaru. Details of Issue
The company announced on March 22 a new issue, at a premium of 10s a share, in the proportion's of one for every eight shares held, and one for every 10 notes held. The shares are payable 20s on application, or 10s (5s capital and 5s premium) by May 31, and 10s by September 30. The books were closed for the purposes of the new issue on Monday, May 1.
The new shares will rank for dividend as from April 1, 1961, on 5s a share, and as from October 1, 1961, on 10s a share.
The issue will increase paid capital from £113,807 to £133,532. Including the premium. it will bring in a total of £39.450. It is needed for new plant in Christchurch and South Canterbury.
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https://paperspast.natlib.govt.nz/newspapers/CHP19610503.2.191
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Press, Volume C, Issue 29503, 3 May 1961, Page 19
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220VIBRAPAC BLOCKS Press, Volume C, Issue 29503, 3 May 1961, Page 19
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