N.Z. INDUST. GASES

Press, Volume CVIII, Issue 31672, 7 May 1968, Page 24

N.Z. INDUST. GASES

Approval For Bonus Given (N.Z. Press Association) AUCKLAND, May 6. New Zealand Industrial Gases, Ltd, will hold a special meeting on May 22 to consider raising ordinary capital by s2m to $4.6m, says a letter to shareholders. The capital increase would be by the creation of another two million ordinary shares of SI. The meeting will also consider capitalising Sim of undivided profits for distribution among shareholders. This-will be applied on behalf of the shareholders in payment for one million ordinary $1 shares. Approval Given The chairman (Mr T. G. Hull) says In a letter that Government approval had been gained for increasing the capital and capitalising the undistributed profits. Directors have confirmed a 3 per cent interim dividend, the interim is payable on June 20, ex June 7. Two new directors, Messrs J. S. Hutchison and D. G. E. Brown, will join the board.

Mr Hutchison is chairman of the British Oxygen Company, Ltd, London, and is on the board of each of the companies of the 8.0. C. group. Mr Brown is managing director of Martin Equipment, Ltd, Auckland.