Pakhoed Plans To Issue Financing Preference Shares

Monday, October 18, 1999
Pakhoed NV will reportedly publish a prospectus for the issue of a maximum of four million cumulative financing preference shares. The issue price is approximately $1,545 per 100 financing preference shares series 2. The proceeds of the issue will amount to about $62 million if the maximum number of shares are issued. The proceeds will be used to finance planned investment programs, including possible future acquisitions. The dividend percentage will be determined on Nov. 3 as specified in the prospectus, according to Pakhoed officials.

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