BURNS PHILP ISSUE
One-for-Four Bonus (N.Z. Press Assn.—Copyright) SYDNEY, May 21. Burns Philp and Company, Ltd., merchant and ship owners, will make a bonus issue on the basis of one-for-four shares held on October 30, directors announced today. The issue, involving 1,800,000 £1 shares will lift capital from £7.2 million to £9 million. New shares would rank for dividend from May, 1965, directors said in a brief statement to the Stock Exchange. They said the proposal to make the bonus issue would be put to shareholders at the annual meeting in September for ratification.
It was proposed that shares representing fractions would be allotted to the Burns Philp and Co. Ltd. Provident Association.
The issue would be made from the asset revaluation reserve, directors said. Last issue by the company, a bonus on the basis of one-for-five in 1962 involved 1,200,000 £1 shares and lifted capital from £6 million to £7.2 million.
Profit last year, presented for the second time on a consolidated basis, rose from £1,115,955 to £1,357,145.
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Bibliographic details
Press, Volume CIII, Issue 30447, 22 May 1964, Page 17
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169BURNS PHILP ISSUE Press, Volume CIII, Issue 30447, 22 May 1964, Page 17
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