F.A.M.E. Insurance Capital Increase

Press, Volume XCV, Issue 28314, 27 June 1957, Page 17

F.A.M.E. Insurance Capital Increase

/New Zealand Press AssoclaMon) WELLINGTON, June 28. Snareholders of F.A.M.E. Insurance Company, Ltd., were told at the annual meeting today that the directors had decided to increase capital. This was mentioned in the address of the chairman, Sir William Polson, who gave no details. He added that the directors hoped that the controlling authority would not penalise shareholders by imposing conditions on the new issue of shares. Present issued capital is £86,890. The company is paying a preference dividend of 5J per cent, and an ordinary dividend of 5 per cent., both payable on July 1. Felt and Textiles, Aust.—The company advises it has increased its holding of shares in Felt and Textiles of South Africa to more than 50 per cent, of the issued ordinary capital.—(P.A.) 1.C.1.A.N.Z. New Laboratory.— 1.C.1.A.N.Z., Ltd., is building a new plastics laboratory at Ascot Vale, Victoria. Cost, including equipment, will be £200.000. Construction of the building should be completed by the end of September and all the plant installed and ready for use by the end of the year. The plastics laboratory adjoins the company’s new central research laboratory headquarters for 1.C.1. research in Australia and New Zealand.