Company News DOMINION BUILDERS

Press, Volume XCIX, Issue 29228, 11 June 1960, Page 16

Company News DOMINION BUILDERS

Offer Raised To 17s 6d

The offer of 12s 6d a share for Dominion Builders* Supplies (Christchurch), Ltd., has been raised to 17s 6d a share, and Dominion Builders* directors recommended the offer to shareholders. The original offer was made by Industrial Acceptance Corporation, Ltd., Christchurch, and was announced on June 7. A condition of the offer was that holders of at least 51 per cent, of the shares should accept. “Industrial Acceptance stated their intention to change the' operations of Dominion Builders’ Supplies so that it could be put on a profitable working basis,’’ says a circular from the board of Dominion Builders’ Supplies. “The purchasers do not propose that this company remain a subsidiary of their company, but that the shares taken up be re-sold after reorganisation.” “In Holders’ Interests”

Negotiations were instituted immediately, and Industrial Acceptance has now raised their offer to 17s 6d per share. The offer is subject to acceptance by the holders of not less than 51 per cent, of the .issued shares on or before July 15, 1960.

Dominion Builders’ Supplies directors consider the offer in the interests of shareholders and recommend acceptance. Last recorded business in Dominion Builders’ Supplies shares was done at 7s 6d. The offer amounts of £63,606 for the 72,692 10s shares.