Feltex Aust To Split Shares

Press, Volume XCIX, Issue 29264, 23 July 1960, Page 16

Feltex Aust To Split Shares

(NZ. Press Association—Copyright) MELBOURNE July 22. Felt and Textiles, Australia, Ltd., proposes to split its £1 shares into 5s units. Shareholders’ approval for the move will be sought at an extraordinary meeting following the annual meeting in November. 'Hie present issued capital of Felt and is £5,299,565. Of this, £3,799,565 is ordinary capital. A, S. Paterson Prospects.—Shareholders of A. S. Paterson and Company, Ltd., would get ample notice of any recommendations for further capital expenditure to develop the company’s subsidiaries, the chairman (Sir John Hott) said in Wellington yesterday. He said there were “excellent possibilities” for such development.—(PA.) Smith and Brown.— Consolidated net profit of Smith and Brown Holdings, Ltd., and its subsidiaries, decreased by £15,245, ior 17.4 per cent., to £72,590 during the year ended May 31. In fhe previous year the company earned a net profit of £87,835. Latest result, representing an earning rate of 10.6 per cent, on shareholders’ funds, is reached after deducting £l4BB as the • net loss incurred by the Scoullar Co., Ltd., Wellington, since it was taken over by Smith and Brown in February.— (P.A.) SIR JOSEPH G. D. WARD, Bt., Stock and Share Broker (Member Chch. Stock Exchange). 441 Hereford st., Christchurch, Commercial Bank Chambers, ’Phone 77-905; P.O. Box 603. —Advt. STOCKS AND SHARES SOMERS COX AND CO., Stock and Share Brokers, (NJember Christchurch Stock Exchange). 96 Hereford street, Christchurch (Ground floor, N.Z. Ins. Bldg) ’Ph 62-560 PO Box 1026