YORK MOTORS MOVE
Repayment Of 2s 6d A Share
York Motors (Holding). Ltd., Sydney, proposes to make a capital repayment of 2s 6d a 5s unit.
The move will halve paid capital, reducing it from £906 666 to £453.333 in units of 2s 6d each
The 2s 6d cash repayment will be tax-free
Directors say that net profit for the year ended November 30 will show a decline because of the depressed state of the motor market. Return to Normal
They expect satisfactory profits to follow a return to more normal trading conditions and growth of the group’s new hire-purchase subsidiary Hire-purchase business is confined to the company's own retail sales
No payment was made for the Mercedes-Benz franchise, but stock Involved the ou’lay of funds.
Directors say the capital return has been assessed after taking into account requirements for these two additional activities
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Bibliographic details
Press, Volume CI, Issue 29744, 10 February 1962, Page 18
Word Count
144YORK MOTORS MOVE Press, Volume CI, Issue 29744, 10 February 1962, Page 18
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