News in brief

Press, Volume CXI, Issue 32774, 26 November 1971, Page 16

News in brief

Ferries says “no” The directors of the Port Jackson and Manly Steamship Company, Ltd, are unanimously opposed to the take-offer from Brambles Industries, Ltd, which it considers is not in the best interests of stockholders. In the opinion of the board and its advisers the offer is less than a reasonable value for the shares and their underlying assets.—(P.A.-Reuter.) Grocers combine The Wellington - based national grocery chain, National Distributors-Self Help, has taken an interest in Wardell Bros and Company, Ltd, with a view to cooperation in buying arrangements and other fields. The companies involved in the arrangement are private, Wellington-based firms. No div. by Giant The directors of Giant Industries, Ltd, Wellington paint manufacturers regret that they are unable to recommend an interim dividend for the six months to September 30, they said yesterday. B.H.P. issue closed

The Broken Hill Proprietary Company, Ltd, has announced that the debenture stock issue has closed. Applications have been received to the value of s6om, including slom in oversubscriptions. The directors say that certificates would be issued within two weeks.

Bid for pf shares

Printing and Packaging Corporation, Ltd, will make an offer to purchase all the preference shares in Coulls Somerville Wilkie, Ltd, f or 85c a share. A formal offer will be sent to shareholders next month, and it will be conditional upon its being accepted by shareholders holding 90 per cent of the preference shares. Settlement date would be in February. Theusual half-yearly dividend warrants will be sent to preference shareholders on December 31.