Commercial news in brief

Press, Volume CXI, Issue 32554, 13 March 1971, Page 20

Commercial news in brief

A.G.S. lifts rate Associated Group Securities has raised its borrowing rates. The top rate for fixed term debenture stock is per cent on a twelve year term. One year on call debentures now returns 7 per cent, one year on call unsecured notes 7{ per cent and three year fixed term unsecured notes, 8 per cent. Offer unconditional R. A. Brierly Investments, Ltd, says that the company’s offer for all the share capital of Murton’s, Ltd, has been accepted in respect of 6056 shares. As this figure exceeds the minimum of 6000 shares stipulated as a condition in the take-over documents, the offer is now ' declared unconditional. It ■ will remain open for accepti ance until March 27, 1971, i but may be extended if | necessary to enable all sharei holders to accept.

Deb. issue filled Ampol Petroleum Ltd’s sl2m debenture issue has been over-subscribed, and it is now closed. Subsidiary sold Australian Industrial and Mining Corpn. Ltd, (Austim) says that agreement has been reached with Beau Monde (Australia) Ltd whereby Beau Monde will purchase all of Austim Corporation’s wholly owned plastic fabricating interests. The purchase consideration is $4.5m, satisfied by the issue of one million 100 c Beau Monde shares at 200 c each and the balance in cash. Bora! Ltd interim The net profit of Boral, Ltd, for the six months to December 31 rose $174,109 or 6.25 per cent to $2,961,602. A unchanged interim dividend of 11 per cent will be paid. Provision for depreciation was $334,862 higher at $2,094,821, and, for tax, $444,540 higher at $2,515,248. An amount of $281,670 was contributed to an oil exploration programme in New Zealand as the result of an arrangement with the Todd interests in the Shell-8. P- . group. One dry well was drilled in the Canterbury off-shore area. Boral Basic maiden Boral Basic Industries, Ltd, of Sydney, will pay a maiden interim dividend of 8 per cent, after earning a net profit of $1,733,371 in the six months to December 31. Provision for depreciation was $1,144,957 and for tax $1,560,690. The profit figures include the half-yearly results of Jayworth Industries, Ltd, and Besser Vibrapac Masonry, Ltd. Trading during the six months was affected by external influences in Victoria, but had recovered towards the end of the calendar I year.