Company News FARMERS’ TRADING
Share Split, 1:2 Bonus (Ni. Press Association) AUCKLAND. May 23. The Farmers’ Trading Company, Ltd., Auckland department store, proposes to subdivide the existing £1 ordinary shares into 5s units and make a one-for-S bonus issue from share premium reserve. The proposals will be put before an extraordinary general meeting soon after the end of August, subject to the annual meeting approving an increase in nominal capital from £2m to £3m and to all necessary consents being obtained. The directors expect to pay a dividend of 10 per cent, on the higher ordinary capital after the bonus. They are recommending an unchanged ordinary payment of 15 pw, cent, for the year endedßKarch 31, payable on June 28 ex June 8. The paid ordinary capital will be lifted to more than £l.4m in 5s shares. Holders of A preference shares will receive a cash bonus of approximately Is 2d a share, while B preference shareholders will receive a bonus of approximately 5s BJd a share. These bonuses have been declared under article 115 of the company’s articles of association. There is no bonus liability to hold-, ers of C preference shares.
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Bibliographic details
Press, Volume CI, Issue 29830, 24 May 1962, Page 17
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193Company News FARMERS’ TRADING Press, Volume CI, Issue 29830, 24 May 1962, Page 17
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