MOVES HELPED LIQUIDITY
Capital Profit For L. D. Nathan •Th* Presrt Special Service AUCKLAND, Nov. 17. The recent negotiations with Innes Industries, Ltd., and New Zealand Breweries, Ltd., had considerably improved the liquidity of L. D, Nathan and Company, Ltd., and Consolidated Hotels, Ltd., said the chairman (Mr L. D. Nathan) at the annual meeting yesterday. L. D. Nathan and Company. Ltd., had, made a capital profit of about £90.000 on the sale of 118.182 shares in Consolidated Hotels, Ltd., to New Zealand Breweries. The hotel company itself had created a share premium reserve of £112.500 from the premiums on the 150,000 new shares issued to New Zealand Breweries. The exchange of 100.000 Nathan stares for 100,000 shares in Innes Industries. Ltd., had recently been completed, and as, a result the company’s paid capital had been lifted to £1 million. Both Innes’ and L. D. Nathan had realised that the capital requirements necessary to maintain the expansion programme planned for Consolidated Hotels were so great that a merger of the company with New Zealand Breweries appeared in the best interest of shareholders.
Tappenden Motors.— lnterim dividend of 5d a share is payable on December 15, ex December B.—(P.A.)
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Press, Volume C, Issue 29674, 18 November 1961, Page 17
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198MOVES HELPED LIQUIDITY Press, Volume C, Issue 29674, 18 November 1961, Page 17
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