Sharlands Propose Capital Increase

Press, Volume XCIX, Issue 29233, 17 June 1960, Page 17

Sharlands Propose Capital Increase

(New Zealand Press Association) WELLINGTON, June 16. Sharland and Company, Ltd., wholesale druggists, Wellington, propose to increase nominal capital from £350.000 to £500.000. Shareholders will be asked to approve a resolution at an extraordinary general meeting on July 8. The additional capital of £150,000 is to be divided into 150,000 ordinary shares of £1 each ranking with existing ordinary shares. Consent of the Capital Issues Committee has been obtained.

New D.H. Subsidiary.— Drug Houses of Australia, Ltd., has formed a new £2.000.000 subsidiary to handle the group’s real estate interests. The new compuny. D.H.A. (Realty and Finance) Pty.. Ltd., was registered yester-i day.—<N.Z P.A.) Clyde Engineering.—Clyde Engineering. Ltd., has bought a twoacre site at Penrose and plans to move the whole of its Auckland branch there within the next 12 months. Personal.—Mr W. T. Percival has been appointed manager of the new Howick branch of the Auckland Savings Bank, which will be opened on Friday. The bank now has 30 branches in the suburbs of Auckland. Vibrapac Blocks.—The share register of Vibrapac Blocks, Ltd., will be closed from June 27 to 29. 1960, both days inclusive, for purposes of the annual meeting and declaration of the final dividend.— (P.A.) National Reliance.— National ReI liance Investment Company, Ltd. I directors ann< unee a new issue of ’ 30.800 ordinary 10s shares at par in proportion one-loi -five held on August 24, ranking from October t Applications, payable in lull, close I September 30. 19G0—(P.A.) Cotlee's Steady.—Cottee’s, Ltd., in Melbourne, manufacturer of food products, has maintained ordinary dividend at 15 per cent, on capital increased by a one-for-two bonus. Consolidated profit for the year to March 31 rote £11.038 or 8.4 per cent, to £141,722. This is after higher provisions for tax at £84,195 (up £3195). and depreciation at £64,103 (up £27,834).—(N.Z.PA.)