AUSTRALIAN WOOL

Auckland Star, Volume LXXI, Issue 9, 11 January 1940, Page 4

AUSTRALIAN WOOL

APPRAISALS TO DECEMBER.

VALUED AT £25,299,147.

('Received 11.30 a.m.) MELBOURNE, January 10. From October to December 1,450,0001 bales of •wool were appraised in Australia at a value of £23,299,147 in Australian currency. The average per j>ound of greasy Wool was 12.16 d. BONUS SHARE ISSUE. BROKEN HILL PROPRIETARY. SANCTIONED BY SHAREHOLDERS. The Broken Hill Proprietary Company, Limited, has cabled the Stock Exchange Association statin# that the resolutions submitted to the extraordinary general meeting of shareholders were adopted. 'I ranster 'book* of the company will be closed from Tuesday, .January 16, at three oclock, till Friday, January 26, at three o clock, for the purpose of determining the persona entitled to the allotment of new shares. Tlie extraordinary general meeting was called to sanction proposals to revise the memorandum and articles Cf association and to increase the nominal capital from £ 15.000.000 to £25,000.000. The bonus issue of £4,459,790. on the basis of 84 new shares for every 100 shares now held, representing capitalisation of share premiums paid on new issues, will now be proceeded with. In determining t'he number of shares to which each shareholder is entitled, fractional parts of less than one share will be disregarded. Shareholders will 'have to ■adjust their holdings in the meantime if they do not want to lose fractions of a share. The increase in the nominal capital by the creation of 10,000.000 new shares of £ 1 each is made necessary because the new share issue of 64 for 100 will absorb the •major portion of the company's present unissued share caipital.