TASMAN AND A.N.M.

Press, Volume CII, Issue 30065, 25 February 1963, Page 16

TASMAN AND A.N.M.

13s 9d Premium For Shares (N.Z. Press Assn. —Copyright) MELBOURNE. Feb. 23 The Tasman Pulp r.nd Paper Company. Ltd., of New Zealand, will take up its allotment of 2,000.000 ordinary £1 shares in Australian Newsprint Mills Holdings. Ltd. at a premium of 13s 9d a share, according 'to the Melbourne “Sun News-Pic-torial” today. The proposed exchange of share parcels (2,000,000 new ordinary £1 shares in each case) was announced by the two companies last December. The total cost of the A.N.M. parcel to Tasman will be £3,375,000, including a premium of £2.375.000. A.N.M. will capitalise £738,477 of this premium in a one-for-10 bonus issue to ordinary shareholders at a date to be announced, the newspaper said. Will Not Rank The £2m allotment to Tasman will not rank for the bonus issue for dividends payable from A.N.M. profit for the year ending June 30. 1963. Shares allotted to A.N.M. profit for the year ending June 30. 1963.

Shareholders of A.N.M. will be asked to approve the agreement at a meeting to be held in Melbourne on March 19. It is proposed to increase the nominal capital of A.N.M. to £l2m. Paid capital after the allotment and bonus issue will be £11.123,248 including £lm 7 per cent, preference. The shares held by Tasman in A.N.M. will be transferable only to nominees of A.N.M. The bonus shares will rank equally with existing capital. The company has paid 10 per cent, dividend since its formation in 1958.

Hilton Sales And Profit Higher

(N.Z.P.A.-Reuter — Copyright) MELBOURNE, Feb. 24. Hilton Corporation, Ltdachieved an increase in sales of all divisions in the six months to December 31 and this resulted in an increase in group profit The profit for the year to June 30 last recovered by 32.6 per cent to £174,296 and dividend was increased from 11 2-3 to 13 1-3 per cent The interim dividend for the current year has been held at 6 2-3 per cent. (4d a 5s share).

R. and G. Dividend.—A steady interim dividend ot 2) per cent., payable on March 21. ex dividend March 7, has been declared by the director! ot Ross and Glendlnlng. Ltd.—(P.A.)