BEECHEY AND UNDERWOOD
One-For-Two At Premium (N.Z. Press Association) WELLINGTON, October 1. Beechey and Underwood, Auckland-based office equipment suppliers, is to make a one-for-two issue at a premium of 5s a share, according to the Stock Exchange Association. Directors have approved the issue of 45,000 shares to ordinary shareholders on the register at 5 p.m. on October 23.
After the allotment of the new shares directors will recommend a bonus issue of ordinary shares from pre-1957 profits on a one-for-10 basis. New issue and bonus issue shares will rank for dividend from January 1 next year; ex rights. Listing This Year Beechey and Underwood was officially listed earlier this year. Shortly after the organisation announced a profit recovery of 14.2 per cent to £11,034 in the year to December 31 last. In his annual report, published early in June, the chairmain (Mr N. B. Saencer) said prospects for the future growth of the company were encouraging. The modern tendency was for the more specialised type of equipment to be leased and this would mean additional capital would be needed. Because of this directors proposed increasing nominal capital from £lOO,OOO to £200,000, Mi - Spencer added.
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Bibliographic details
Press, Volume CIII, Issue 30561, 2 October 1964, Page 17
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194BEECHEY AND UNDERWOOD Press, Volume CIII, Issue 30561, 2 October 1964, Page 17
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