A.P.M. PLANNING BONUS ISSUE
one-For-4 In Six Months Time (N.Z.Pu4.-Reuter —Copyright) MELBOURNE, Dec. 19. The directors of Australian Paper Manufacturers. Ltd., report plans to make a £4,383,750 one-for-four bonus issue in six months’ time. The issue will lift paid capital to almost £22.000.000 —making the company about the eighth largest in Australia based on size of issued capital. The bonus issue, announced late yesterday, is the first free issue to shareholders since the formation of APAI. in 1926. It follows the- sharp decline in the group s output, sales and profits in the 196061 financial year. The bonus issue will come from a reserve created by the revaluation of ‘‘certain of the company's assets.” directors said yesterday. Directors expect to maintain “about the same rate of dividend” after the bonus issue. The bonus issue will lift ordinary capital from £17,535,000 to about £21,918,750 in £1 ordinary shares. Shareholders registered on June 30 next year will be entitled to receive the bonus. Holders of the company’s notes will not participate. Directors say they will give further information about the issue in a halfyearly statement late in January.
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Press, Volume C, Issue 29702, 21 December 1961, Page 19
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186A.P.M. PLANNING BONUS ISSUE Press, Volume C, Issue 29702, 21 December 1961, Page 19
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