N.Z. INSURANCE PROPOSALS
Bonus, Share Split Approved (N Z Press Association) AUCKLAND. Aug. 28. The £2.3m bonus issue and the share split proposals were passed at an extraordinary general meeting of the New Zealand Insurance Company. Ltd., today. The bonus issue of 58-for--100 shares will take £2,366.400 from pre-1957 profits. The new scrip will be called C shares and will rank for dividend after the latest final payment. A proposal to increase the nominal capital of the company from £6m to £ 10m was also passed at the meeting.
Following the bonus issue, the new capital of 10m £1 shares will be divided in 20m 10s shares in conformity with trends in New Zealand and overseas.
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Bibliographic details
Press, Volume CI, Issue 29913, 29 August 1962, Page 17
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115N.Z. INSURANCE PROPOSALS Press, Volume CI, Issue 29913, 29 August 1962, Page 17
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