NEWS IN BRIEF

Press, Volume CX, Issue 32406, 19 September 1970, Page 22

NEWS IN BRIEF

P. Morris expands Philip Morris (Australia), Ltd, has issued 2,100,000, 100 c shares to acquire the issued.capital of the Godfrey Phillips group of companies 'in Australia. The shares were issued at a premium of 500 c each, and $10,500,000 1 has been credited to share l premium account. Listing for the shares is being sought on Australian stock exchanges. Limits welcomed The chairman of Queensland Mines, Ltd, and Kathleen Investments, Ltd (Mr E. R. Hudson), has welcomed the Federal Government’s move to limit overseas ownership of the Nabarlek Uranium deposit in the Northern Territory. Mr Hudson said he did not believe there had been any concerted take-over attempts for Queensland Mines so far, nor did he believe the present foreign shareholding exceeded the limits laid down by the Prime Minister. New Zealand agent The American firm of Crouse-Hinds, Ltd, a major producer of electrical protective equipment, has announced the appointment of the National Electrical and Engineering Company, Ltd, as its agent in New Zealand and the Pacific Basin. Neeco is a subsidiary of the Cable Price Downer Corporation. Loloma says no The directors of Loloma Mining Corporation NL, reaffirmed their recommendation that Loloma shareholders should not accept the take-over offer from Mining Finance Corporation, Ltd. The directors added they would be sending further comments to Loloma shareholders within the next few days.