BRAMBLES CASH ISSUE
Capital for expansion
Brambles Industries, Ltd. will make a one-for-five issue of ordinary shares of 50c each at a premium of 25c, ex-rights March 17. The new shares are payable 35c (25c capital and 10c premium) on application, and the balance of 40c (25c capital and 15c premium) on October 31. 1975.
The issue is to provide funds to finance further expansion of the group’s activities in Australia, and overseas.
The issue will be underwritten jointly by Development Finance Corporation Ltd, and lan Potter and I Company. Option holders, and con- | vertible noteholders will he i entitled to participate on the • basis of one new 50c share [for each five held. All fractions will be iginored in determining entitlements.
The new shares will not participate in the interim dividend payable on April 11, 1975, but they will rank for the final dividend for the year to June 30, in proportion to capital paid up, and then rank equally with existing stock units of the company.
The directors expect a future dividend rate of 16 per cent per annum (8c a share).
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Bibliographic details
Press, Volume CXV, Issue 33783, 4 March 1975, Page 14
Word Count
184BRAMBLES CASH ISSUE Press, Volume CXV, Issue 33783, 4 March 1975, Page 14
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