OFFER FOR R.M.C.
Joint Bid Successful The Colonial Sugar Refining Company Ltd., and Blue Metal Industries, Ltd., have declared their joint offer for Ready Mixed Concrete, Ltd., unconditional as to the percentage of acceptances received. C.S.R. and 8.M.1. also announce that they have received acceptances representing more than 77 per cent of R.M.C.’s paid capital. This means that the offer has succeeded, subject to other minor conditions in the formal offer. The offer is further extended to September 16 or longer period as 8.M.1. and C.S.R. decide.
Rothmans Div., Profit Up
(N.Z. Press Association) AUCKLAND, Sept. 10. Rothmans Tobacco Company. Ltd., Napier, has raised its dividend from 15 per cent to 17J per cent after another big increase in profit £91.509, or 45.5 per cent, to £291.640 —in the year to June 30. The previous year profit jumped 96 per cent. After a one-for-two issue at a premium of 100 per cent only six weeks before the balance date, the earning rate on average ordinary funds was 23.5 per cent and that on average ordinary capital 42.5 per cent, against 27 per cent and 48 5 per cent last year. The 17| per cent dividend (15 per cent was forecast) requires £134,696. It is payable September 24; ex dividend September 14.
Business Personals
Mr F. A. Stevens, accountant at the Christchurch branch of the Commercial Bank of Australia, has been appointed manager of the bank’s Sydenham branch. Mr G. Duncan has become general manager of Mobil Oil New Zealand, Ltd. Britishborn, Mr Duncan joined the Mobil Group in 1946. Since then he has been general manager in Rhodesia and general sales manager for South Africa. Mr V. H. du Chateau has been appointed to the board of Nicholas Products, Ltd. He has been secretary of the company for 27 years. Truth (N.Z.).— Truth <New Zealand), Wellington newspaper proprietors, will pay a steady 4 per cent dividend on ordinary and B ordinary shares: ex dividend September 23. Last year total dividend was 12 per cent.—(P.A.)
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Bibliographic details
Press, Volume CIII, Issue 30543, 11 September 1964, Page 15
Word Count
334OFFER FOR R.M.C. Press, Volume CIII, Issue 30543, 11 September 1964, Page 15
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