AJAX G.K.N. ISSUE

Press, Volume CVI, Issue 31335, 4 April 1967, Page 21

AJAX G.K.N. ISSUE

Premium To Be 3s 3d (N.Z. Press Association) AUCKLAND, April 3. The public issue of 10s ordinary shares by Ajax G.K.N., Ltd., Lower Hutt, maker of nuts and bolts, screws, rivets and hinges, will be made at a premium of 3s 3d. A total of 700,000 shares are being offered at 13s 3d, This will net the company £113,750 in premium funds and £350,000 in capital. The issue will bring paid capital of the company to £1,350,000 with the public holding 25.92 per cent. Balance of Capital The balance of capital is held by Guest, Keen, and Nettlefolds, Ltd., Birmingham, and McPhersons, Ltd., Melbourne tool and machinery manufacturer. The issue price is only 3d above the net asset backing a share. The dividend yield at the price of 13s 3d will be 6 per eent on the forecast dividend of 8 per cent. The profit for the year to March 31 last year was £157,000, giving an earnings yield of 11.8 per cent. Current Earnings Earnings for the latest year are expected to be about the same. The shares are payable 6s 6d, including 5s capital, on application next month and thq balance on April 1, next year. The new shares will rank equally with all others and will take part in full for the dividend for 1967-68 to the extent of the amount paid up, ss.