BROADLANDS CAPITAL UP

Press, Volume CIX, Issue 32032, 5 July 1969, Page 22

BROADLANDS CAPITAL UP

One For Four Cash Issue

(N.Z. Press Association)

AUCKLAND, July 4.

Broadlands Dominion Group, Ltd, the Auckland financier, will make a one-for-four par issue of 50c shares in August, the directors said today. The issue will raise paid capital, which is all ordinary, by $308,263 to $1,541,315. The market price of the shares before the announcement was 81c.

The issue will be made-on holdings at August. 15, and shares become ex rights on August 4. The new shares will be payable 25c on application by September 15 and 25c by November 14. - They will rank for the final dividend for the current year only. This is the third cash issue to be made since the company achieved stock exchange listing in 1964. It made issues at par in 1965 and 1966, both in the ratio of one-for-four. Earlier this week it announced a $1 debenture issue, with the right to accept over subscriptions to a further s2m. This is the maximum allowed under the trust deed, but the new cash issue will again increase the company’s borrowing capacity under the deed.

Brother Dlatrlb.— Fin. 5 p.c. (Last year 2i p.c. and 5 p.c.) Fashion Holdings.— lnt. 6 p.c. payable July 31; ex div. July 29. (Last year * p.c. and 9 p.c.)