NEW REPCO MOVE

Press, Volume CIII, Issue 30395, 20 March 1964, Page 14

NEW REPCO MOVE

Offer Made For Compcork (N.Z. Press Assn.—Copyright) MELBOURNE, March 19. Repco, Ltd., manufacturers and distributors of automotive components, has made a take-over offer for Compcork, Ltd. Total value of the offer is approximately £756,250. Compcork manufactures cork sheets and rolls for engine gaskets, cork seals, footwear and cork tiles at its factory in the Melbourne suburb of Huntingdale. The offer states that the company will allot one ordinary share credited as fully paid in the capital of Repco and will pay 2s 6 cash for every two fully paid ordinary shares in Compcork. The amount of 13s 9d will be paid for any odd share after dividing by two. Current market price for Compcork shares is 11s.

Early Brothers Ex. Div., Ex Rights

Early Brothers, Dental and Surgical Supplies, Ltd., Christchurch, will close its books on April 6 to determine entitlement to the new share issue and final 7j per cent dividend, making a steady 12$ per cent for the year, payable April 20. Payable in full on May 14, the new shares (4s capital and 4s premium) will rank equally for dividends after April 20.

Kaniere Gold (From Our Own Reporter) GREYMOUTH, March 19. The Kaniere gold dredge for the half-month ended March 14 recovered 224 ounces of bullion from 174,000 cubic yards of spoil. Working time was 239 hours.

Business Personal

Mr E. C. Hazlett has retired as chairman of directors of the Perpetual Trustees Estate and Agency Company, Ltd., but will remain a director. He has been succeeded as chairman by Mr C. R. Nicolson, formerly vice-chairman. Mr S. D. Smith has been appointed the new vice-chairman.

The directors have appointed Mr S. R. Whyte, of Dunedin, to fill the vacancy on the board created by the death of Sir Roy Stevenson.