Placing and offer by Lazarus Brothers & Co. Ltd.
of 40,688,475 ordinary shares of 5p each at 125p per share payable in full on application
Share Capital following the issue
Authorised
Number 120,000,000
Amount £6,000,000
Issue Fully paid
Number 86,343,786
Amount £4,317,000
Indebtedness
At the close of business on 24 June, 1994 the Church of England and it's subsidaries had outstanding secured bank loans of £16,823,820, secured overdrafts of £1,001,384, unsecured loans of £3,500,000, finance lease obligations of £28,512,529, guaranteed loans of £10,800,000 and guarantees and contingent liabilities of £733,014.
Save as aforesaid and apart from intra-group indebtedness, at the close of business on that date neither the Church of England nor any of it's subsidaries had any outstanding loan capital (including term loans), or other borrowings or indebtedness in the nature of borrowings, including bank overdrafts and liabilities under acceptances (other than normal trade bills), or acceptance credits, hire purchase commitments, finance lease obligations, charges, or other contingent liabilities.
At the close of business on 24th June 1994, the Church of England Group and it's subsidaries had cash at the bank amounting to £1,835,265
