£219,375 Deal By Milne And Choyce
(New Zealand Press Association) AUCKLAND, September 13. Shareholders in C. M. Ross Company, Ltd., Palmerston North department store, will receive 10 Milne and Choyce, Ltd., shares plus £2 10s in cash for each of the 7510 £lO Ross shares in the takeover recently agreed upon. On the present market value of Milne and Choyce shares of £2 13s 6d this payment is worth £29 5s for each £lO Ross share. This puts the total value on C. M. Ross at £219,375. The deal involves Milne and Choyce in a capital commitment of £75,000 and a cash payment of £18,750. Milne and Choyce shareholders will be asked to approve the issue of shares to C. M. Ross at an extraordinary meeting on October 5.
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Bibliographic details
Press, Volume XCVIII, Issue 28999, 14 September 1959, Page 16
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129£219,375 Deal By Milne And Choyce Press, Volume XCVIII, Issue 28999, 14 September 1959, Page 16
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