MIRANUI LIMITED

Shannon News, 21 June 1927, Page 3

MIRANUI LIMITED

IMPORTANT FLAX ENTEBPI&SB. > In this issue appears an announcement concerning Miranui, Ltd., which is being formed to acquire the best-known ■ business in the flax industry—the A, > and L Soifert Flaxdressing Co., Ltd.,., of Makerua, near Shannon. The prospectus states that ;he company will - acquire an area of 3105 acres, which ha\ e an excellent growing and standing , - crop. The mill-plant is declared to be the largest and most up-to-date in New Zealand. The A. and L. Seifert .-Flaxdressing Co. has been established twenty years, and has milled over 300,0000 tons of green leaf. Last year it supplied near-ly'one-fifth of the total hemp exported from New Zealand. industry is making rapid progress. Fibre exports from New Zealand in 1926 were double those of 1922, . according to the Government Statistician's 'Here are the details:— Tons. Value. : 1922 ;U,425 ' £295,530 . 1926 .... 20,798 £589,603 The opinion of. "the Directors as to .-• the prospects' of Miraiiuii- Ltd., is best expressed by stating that the Directors and their friends have applied for 20,000 shares -at-.par, payable in cash. • The whole issue of 45,000 shares now offered for public subscription has been - underwritten .by. the N.Z. Underwrit- - ing and Development'" Corporation, Ltd. The illustrated prospectus is now obtainable'from all members of the Wellington Stock. Exchange, or from the N.Z. Underwriting and Development Corporation, Ltd., N.Z. Insurance Building, Wellington.