Company News BONUS ISSUE
1.C.1.A.NZ Three For Seven (NJ!. Pres* Assn.—Copyright) MELBOURNE, June 7. Impend Chemical Bndiurtriea of Australia and New Zealand. Ltd, will make a three-for-seven bonus Issue tram share premium and assets revaluation reserves, the company announced today. After the bonus it is proposed to reduce the dividend rate from what it would otherwise have been by the same proportion that the capital will be increased. Shareholders registered on June 23 will participate in the bonus and a meeting will be held on June 26 to confirm the distribution. The issue will raise paid capital of 1.C.1.A.N.Z. from £ 18.0 m to £A25.3m, of which £Alm is in preference shares. It will make 1.C.1A.N.Z. the second largest company (measured by paid capital) in Australia. Capital of B.H.P after the recently-announced one-for-six par issue will be £ll3m. and capital of the Bank of N.S.W. is £22m.
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https://paperspast.natlib.govt.nz/newspapers/CHP19610608.2.194
Bibliographic details
Press, Volume C, Issue 29534, 8 June 1961, Page 21
Word Count
146Company News BONUS ISSUE Press, Volume C, Issue 29534, 8 June 1961, Page 21
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