£586.000 BID BY FRIGRITE
Offer To Dangar, Gedye Frigrite. Ltd., Melbourne refrigeration and air-condi-tioning engineers, has made a take-over bid worth £586 000 to buy all the issued capital, apart from redeemable preference shares, of Dangar. Gedye and Malloch. LtdSydney machinery merchant. Terms are: , Eleven Frigrite 10 ordinary shares for every 10 Dangar. Gedye £1 ordinary shares Four Frigrite ordinary shares for every three Dangar, Gedye £1 8s per cent first preference shares. Five. Frigrite ordinary shares for every six Dangar, Gedye £1 5s per cent, second preference shares. The offer is subject to 90 per cent, acceptance by August 1. Recommended Directors of Dangar. Gedye have decided to accept the offer in respect of their own holdings and strongly recommend shareholders to do likewise. Directors of Frigrite expect that the results of their company for the current financial year will be “substantially bet*er” than for the 1959-60 year. They anticipate that the current dividend rate will be maintained on the enlarged capital.
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Bibliographic details
Press, Volume C, Issue 29557, 5 July 1961, Page 19
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163£586.000 BID BY FRIGRITE Press, Volume C, Issue 29557, 5 July 1961, Page 19
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