WISEMANS HOLDINGS

Press, Volume CIX, Issue 31976, 1 May 1969, Page 18

WISEMANS HOLDINGS

Cessation Of Trading (N.Z. Press Association) WELLINGTON, April 30. All merchandising activities of Wisemans Holdings, Ltd, have, ceased because of the sale of all the shares in the trading subsidiaries, the directors say in their interim report. It is expected that it will take up to 15 months from this date before final realisations arising from the subsidiaries’ sales are received, and meantime the company still owns four properties, they say. Present Income consists of rents and interest, and it is anticipated that an ordinary share dividend, of ,6 per cent will be recommended for the year- to July 31. J Apparently some shareholders have thought the ordinary share dividend of 40c a share involved a return of capital, and -in order to clear up any misunderstandings we advise that the paid-up capital of 100 c a share has not been reduced. ' “The question of the return of the capital is currently being fully investigated by the directors who will make a final recommendation in this regard at the annual general meeting to be held later in the year.”