LAMPHOUSE PURCHASE
Expansion In Auckland (N.Z. Press Association! WELLINGTON. June 27. Lamphouse Properties, Ltd., Wellington, proposes to use the proceeds of a £46,250 share issue for the purchase of a building in Auckland. The company plans to issue 185,000 ordinary 5s shares, which will be offered in the first instance to existing shareholders and convertible note-holders.
The issue is expected to open on September 1 and shares will rank fur one-half of any dividend declared for the year ending March 31, 1967. As announced earlier, the company has reported a net profit of £13,399 for the first full year of business, compared with £6383 for the previous initial 10-month period. A dividend of 6 per cent is recommended, taking £10,200. In the previous period a dividend of 3 per cent was paid. The profit represents an earning rate of 7.3 per cent in shareholders’ funds of £182,521. There is also £lOO,OOO in 10s convertible 7 per cent notes. The balance-sheet shows current liabilities at £34,722. Current assets are £267,269, fixed assets are £23,010 and investments are shown at £22,764.
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Bibliographic details
Press, Volume CVI, Issue 31097, 28 June 1966, Page 21
Word Count
179LAMPHOUSE PURCHASE Press, Volume CVI, Issue 31097, 28 June 1966, Page 21
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