METROPOLITAN DAIRIES
Premium Issue One-For-Eight
(N.Z. Press Assn.— Copyright) MELBOURNE. Sept. 30. Metropolitan Dairies, Ltd. will make a one-for-eight issue of 5s shares at a premium of 4s a share. The company, Melbourne's biggest milk supplier and owner of milk and bakery interests in Tasmania, will raise £476,910 by the issue, it was announced today. The issue will involve I, ordinary 5s shares and will provide funds for reduction of bank overdraft and short term deposits and for future expansion. The acting chairman (Mr F. J. Cayley) announced the issue at the annual meeting today. The issue is the first at a premium since the formation of the company in 1955. Directors said it was not considered there would be any change in the present 124 per cent dividend rate as a result of the issue.
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Bibliographic details
Press, Volume CIII, Issue 30560, 1 October 1964, Page 24
Word Count
136METROPOLITAN DAIRIES Press, Volume CIII, Issue 30560, 1 October 1964, Page 24
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