Aurora diversifying

Press, 21 November 1978, Page 18

Aurora diversifying

Commercial

PA Wellington The chairman of the Wellington property company, Aurora Group, Ltd, (Mr J. E. Gillingham) has announced that the balance date of the company will be changed from October 31 to March 31. “While an October date: did have taxation advantages; in the past, this no longer applies,” he says. “A March balance date has been adopted in line with general practice and will have significant advantages from administrative purposes.” Group accounts of the 17 months will be presented at the next annual meeting in May. A further interim dividend will be paid in February and a final dividend for the 17-month period in August, 1979. The bonus issue in the ratio of one-for-five will be made from the revaluation of assets reserve and will be non-taxable. The shares issued will participate fully

in the next dividend to be paid in February. Shareholders will be asked to approve the issue at an extraordinary meeting on December 12, the notice of meeting also includes a resolution for an increase in the authorised capital "to provide a satisfactory margin of •both unallocated and preference shares.” Authorised capital will be increased by $2,250,000 bringing the total to S6M, the increase being in 4M 50c ordinary shares and 250,000 100 c redeemable preference shares. The holders of convertible notes and specified-prefer-ence shares will also be entitled to participate in the bonus issue. They will each receive the number of fully additional fully-paid ordinary shares to which they would have been entitled had they been ordinary shareholders at the date of bonus issue. Taking into account the bonus issue made in December, 1977, and the proposed

bonus issue this December, a] holder of 100 100 c convert-) ible notes will receive (in I 1979), on conversion, 264; 50c ordinary shares, and a) holder of 100 100 c specified) preference shares will re-) ceive, in 1986, on redemp-i tion, 132 50c ordinardy) shares. In addition to various pro-j perties, the group is also; diversified into the supply) of road and concrete aggregate. into the manufacture) of concrete masonry, and: motor vehicle distribution.