COMMERCIAL T. J. Edmonds Plans Bonus, Cash Issues
T. J. Edmonds, Ltd, Christchurch food group, was planning a one-for-eight bonus and one-for-eight premium issue to shareholders, the chairman (Mr C. W. Evans) told the annual meeting yesterday.
The premium issue will be made at 200 c for each of the 100 c shares which are unlisted. Last Monday, there was an unsatisfied buyer at 350 c in the closing quotations in Christchurch.
Each issue will require 56,250 shares and will lift ordinary capital by $112,500 to $562,500. The bonus issue will be paid out of capital reserves. At the moment, the authorised capital is slm and shareholders at the special meeting in August to approve the issues, will be asked to approve increasing the nominal capital to sl.sm.
Profit Increase
In the latest year to March 31, Edmonds increased its group profit by $5387, or 5.5 per cent, to a record $103,733. This covered the 124 per cent dividend 1.8 times. In July, Edmonds acquired for cash 105,000 $1 fully paid shares in Graham Stewart and Company, giving Edmonds a controlling interest
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Bibliographic details
Press, Volume CVIII, Issue 31730, 13 July 1968, Page 18
Word Count
182COMMERCIAL T. J. Edmonds Plans Bonus, Cash Issues Press, Volume CVIII, Issue 31730, 13 July 1968, Page 18
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