KANIERI ELECTRIC LIMITED

Hokitika Guardian, 26 July 1930, Page 4

KANIERI ELECTRIC LIMITED

ADVANCE NOTICE. The Kanieri Electric Debentures, prospectus for which is now in the publish-.-/ ers’ hands and will be ready for . distribution within the very near future, contain a feature which- should bo extremely interesting to the investor —namely that of conversion. ' ' • .■ ■' At ’the diScfetioll tif the Debenture holder, and any time prior to maturity, the Debenture may be ■ exchange*; for fully paid up shares o’f the Company equal to the amount of the Debenture. The Company’s business during the past 8 years has shown a'continued increase, and an estimate based on this increase indicates net earnings appiicable to Ordinary Shares sufficient within 5 or 6 years to yield an interest re-; turn on the Ordinary Shares sustantial-; lv in excess of the Debenture interest of 7 per cent, per annum. When the net earnings applicable to Ordinary Shares have increaised to this amount ■ the Debenture holder may, without loss or cost of any kina, exchange his Debentures, pound for pound into Ordinary Shares of the Company,. thereby availing himself of the increased interest rate, and materially adding to tne yield from his investment. The following features tend to make the Kanieri Electric Debentures, an attractive investment into which to put that little nest egg which you have laid away for a rainy day. , (a) Investment in a going business with which you are closely associated. j (b) Unquestionable security. I (c) A substantial interest yielcf^^du^ payable semi-annually. / • r (d The opportunity to purchase, in either large or small amounts, at a discount, with payments,distributed over a period of time. (e) The privilege df converting into Ordinary Shares of the Company when same are yielding an interest return in excess of 7 per cent per annum. Inquiry in regard to the above may be made at the Company’s local office,