ANSETT BID FOR ANTILLS

Press, Volume CI, Issue 29716, 9 January 1962, Page 14

ANSETT BID FOR ANTILLS

Offer Details Not Yet Released Anti!! Ranger (Holdings), Ltd., disclosed that Ansett Transport Industries, Ltd., made the offer for all its issued capital. Details of the offer will be released after a meeting of Antill directors. Paid capital of Antill is £279,000 in 10s shares. Issued capital of Ansett is £6.040,978 in 5s ordinary shares and £524,250 in 20s preference shares. Antill’s latest profit of £36.575 gave an earning rate of 16.4 per cent, compared with Ansett’s profit of £803.657 representing an earning rate of 13.4 per cent. Ansett has maintained a 10 per cent, dividend rate since 1956, whereas Antill cut its dividened from 10 to 8 per cent, for the year ended June 30. Net tangible assets backing is 5s lid for each Ansett 5s ordinary share, and Ils 4d for each Antill 10s share. 8.H.. ctg., 3s 2d; Sth. 8.H., pd., 12s 3d; Atnpol Exp., Us 6d; A.O

Slight Lift In N.Z. Reserves (N.Z. Press Association) WELLINGTON, Jan. 8. Net overseas assets of the New Zealand banking system on December 27, 1961, were £49.1m compared with £47.9m on December 20, 1961 and £66m on December 28, 1960. Business Personal Mr R. J. Thomas, a former New Zealand manager of the Union Bank, has been appointed chief manager of the New South Wales division of the A.N.Z. Bank, the bank’s top post within the state. Mr Thomas succeeds Mr W. J. Lahore, who died suddenly in Sydney last December. Mr R. A. Orpwood, formerly a senior administrative officer in the general manager’s office, Melbourne, becomes deputy chief manager of the bank's New South Wales division. C.B.A. Interims.—Commercial Bank of Australia, Ltd., interim dividends are 2 per cent, preference and 5 per cent, ordinary; payable February 9, ex dividend January 24.—(P.A.)