Company News C.B.A. PLANS ISSUE
One-for-Two At Premium (N.Z. Press Association) WELLINGTON, August 1. The directors of the Commercial Bank of Australia will recommend to shareholders that 4,211,736 of the existing ordinary 10s shares be offered at a premium of 2s 6d a share on the basis of one new share for eaeh two units held. The adldii'tion'al capital will be used im support of the bank’s development programme. With a continuance of reasonable economic conditions, the directors feel that the present dividend rate of 10 per cent, on ordinary stock can be maintanned on tihie increased capital. Dividend Ranking
The new steres will be converted into ordinary stock immediately upon allotment and are to rank for dividend as from January 1, 1964. The directors are also to recommend to an extraordinary general meeting that the authorised capital of the company be increased, by the creation of an additional 10,000.000 ordinary shares of 10s each, to £15,000,000. This total would be made up of 300,000 preference shares of £lO each and 24,000,000 ordinary shares of 10s.
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https://paperspast.natlib.govt.nz/newspapers/CHP19630802.2.161
Bibliographic details
Press, Volume CII, Issue 30199, 2 August 1963, Page 14
Word Count
176Company News C.B.A. PLANS ISSUE Press, Volume CII, Issue 30199, 2 August 1963, Page 14
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