WELLINCTON PUBLISHING

Press, Volume CII, Issue 30288, 14 November 1963, Page 27

WELLINCTON PUBLISHING

Bonus Issue, Share Split

(N.Z. Pres* Association) WELLINGTON, Nov. 13.

Hie Wellington Publishing Company, Ltd., publisher of the “Dominion,” proposes to make a cne-for-three bonus issue of £5 shares and a one-tor-three cash issue of £5 shares at £2 10s premium. The shares will later be divided into £1 units. The issues will increase paid capital by £200.000, to £500,000. Nominal capital of the company will first be increased from £309,000 to £750,000. The bonus issue will be made from pre-1957 profits and will be treated as nonassessable income tor tax purposes. The shares will be known as “C” shares, and will rank fully for dividends for the year ending September 30, 1964. The full amount of £7 10s tor shares in the cash issue will be payable on March 31. 1964. These shares will rank for half the dividend declared tor the year to Septemper 30, 1964. and thereafter equally with all other shares of the company. Provision will be made for renunciation of rights. At a suitable date between April 1 and September 30, 1964, all the £5 shares of the company will be divided into £1 shares. The proposed capital changes will be considered by shareholders at an extraordinary general meeting on December 5.

Beam.—The £ 1 ordinary shares have been converted to 5s units. Shareholders have approved the Increase from 5 per cent to 51 per cent in the preference dividend.