WINSTONE, G. BAY OFFER 20c MORE

Press, Volume CIX, Issue 32233, 27 February 1970, Page 16

WINSTONE, G. BAY OFFER 20c MORE

Wilsons (NX) Portland Cement Company, Ltd, has received a higher offer from Winstone, Ltd, and Golden Bav Cement Company, Ltd.

The joint-bidders, whose earlier offer has been sharply criticised by the Wilsons directors, yesterday raised the cash content of the bid by 20c.

The original offer should have closed on February 20,

but was extended last week by the bidders. The consideration now offered for each Wilsons 100 c share is one fully paid 50c share in Winstone, plus one fully 50c share paid in Golden Bay, plus 60c in cash. In all other respects the offer remains unchanged, and is conditional on acceptances being received in respect of at least 3,920,896 Wilsons shares with the option to make it conditional on accep tances in respect of 2,156,552

New share transfer forms ■ will be dispatched to all Wilsons shareholders today. Shareholders wishing to ac- ■ cept the new offer must comI plete these and return them to B.N.Z. Nominees, Ltd. Auckland, by March 20. The directors of Winstone said yesterday that they anticipate being able to recommend a final dividend of at least 8 per cent, making at least 12 per cent for the year to March 31, 1970.

•‘The Press” To Seek Listing The Christchurch Press Company, Ltd, will hold an extraordinary general meeting on March ?4, to adopt new articles of association which comply in every respect with | Stock Exchange listing requirements. If shareholders approve the resolution to adopt the new articles, the company will seek official listing before April 1, the chairman (Mr P. D. Hall) says in a circular to shareholders.