FROZEN PRODUCTS TO MAKE BONUS ISSUE

Press, Volume XCVIII, Issue 29058, 21 November 1959, Page 16

FROZEN PRODUCTS TO MAKE BONUS ISSUE

(New Zealand fr'tens Association/ WELLINGTON, November 20. Frozen products will make a one for 16 bonus issue of £lO,OOO from capital reserves, increasing paid capital from £160,000 to £170,000. Shareholders on the register as at December 18, 1959, will participate, and the issue will be tax-free because it comes from reserves created from the sale of land and buildings. Net group loss on the year’s working was £ 10,435, compared with a loss of £12,633 last year, and dividend has again been passed, The last issue was in June> 1956, of 200,000 5s stock units at par in the ratio of one for two. The last sale of shares was at 5s 8d on October 2, Id less than the top price for the year and 8d up on the lowest price. Trading profit was £29,632 after charging operating, administration expenses and taxation, from which was deducted ordinary depreciation of £32,916 and special depreciation of £7151 (nil). Consolidated net earnings Were £41,214 (£42,429). The balance sheet shows shareholders’ funds at £224,043 (£233,249), current liabilities at £101,819 (£87,418), and current assets at £156,967 (£147,652).