ISSUE PLAN BY C.A.G.A.

Press, Volume CIV, Issue 30737, 29 April 1965, Page 27

ISSUE PLAN BY C.A.G.A.

Two-for-Five At Premium (N.Z. Press Assn.—Copyright) MELBOURNE, April 28. Commercial and General Acceptance, Ltd., will make a two-for-five issue of 5s ordinary shares at a premium of Is 3d a share. It will raise £2.5m. The issue will be made to shareholders on May 31. It will involve 8m shares and will increase paid capital from £sm to £7m. Premiums raised will amount to £500,000. Directors said today, in announcing the issue, that the higher level of earnings announced for the half year to December 31 improved further in the quarter to March 31. They expected to maintain the 10 per cent dividend rate on higher capital after the issue. New shares are payable in full, together with the premium. by July 1. They will rank for dividend from then. Directors say funds will be used to provide for the expansion of the company’s business. The Commercial Banking Company, of Sydney, will take up its full entitlement and so maintain its 40 per cent shareholding in the company. Y ounghusband Div. Steady (N.Z. Press Assn. —Copyright) SYDNEY, April 28. Younghusband, Ltd., wool and produce broker and stock and station agent, has maintained dividend at 10 per cent, in spite of slightly lower profit for the year ended March 31, directors have announced. Consolidated net profit at £305,019 is £9920 lower than the record of the previous year. Earning rate eases from 17.9 to 17.2 per cent on capital. Final dividend is steady at 7 per cent. Interim is also unchanged at 3 per cent. Dividend for 1963-64 was lifted from 8 to 10 per cent after a profit jump of £74,261. Latest result is after tax £212.000 (up £20.000) and depreciation £56,817 (up £651).

Indices

Latest share price Indices are:

London.— Financial Times (in dustrial ordinary 1935, equals 100; Government, 1926, equals 100: gold. 1955. equals 100):

Sydney.— Sydney Stock Ex change (July. 1931. June. 1939. equals 100):

1964 Oct 1 .. 377.8* — Dec 31 .. 355 0 79 07 68 8 1965 April 23 .. 342.2 78.07 67 7 April 26 .. 341.8 78.13 67.4 April 27 . 343.8 78.20 66.8 New York.—Dow Jones: Rails Indust. Sold 1964 Dec 31 205 34 874 13 6,470.000 1965 April 23 212.12 416.41 5,860.000 April 26 212.17 916.86* 5.410,000 April 27 212.09 918.16 6,310,000

Retail Ord Indust 1964 Feb 27 . 379 21* — Dec 31 . 424 76 367 03 398 11 1965 April 26 . Anzac Day Holidav April 27 . 359.64 309.25 334.77 April 28 . 356.26 •Peak 305.66 330.71