Bisley bonus, rights issues

Press, 7 May 1980, Page 22

Bisley bonus, rights issues

A M Bis lev and Com- , pany, Ltd. plans, in recogni- : tion of the company s bOth anniversary, a one-for-five bonus issue, to be followed by a rights issue, and an increase in dividend. The rights issue will be in the ratio of one for four shares including the bonus issue, at a price of 155 c , being 50c capital and Iooc, premium. Payment will be required in full by July 10. An extraordinary general meeting will be called for June 30 to approve thebonus issue. Shares will beicome ex bonus and ex rights on June 4. ’. i The directors also say that! they intend recommending! to the December annual gen-' eral meeting an ordinary dividend of 23 per cent on; the existing capital plus the bonus issue which is the, equivalent of 27.6 per cent! (last year 25 per cent) oni the pre-bonus level of share-" holding. i 1 Application has already) been made and granted by I the court for dividends to beji paid tax free in hands of I: shareholders. An additional ] application will be made to t

-{the court for further divi- - dends to be paid tax free i from the share premium '■ • account arising from this ® i issue. Referring to current trad- • ing. the directors sav that ■: i they judge from the nine :? r months trading results ! ; which are available to them ..and from the export .expected io be delivered - fore the annual balance date of June 30. that the I for the full year will fully, j • justify the increase of the ■amount of dividend that they will recommend to be , paid on the increased capital after the bonus issue. * | As announced, net ■for the six months to Diicember 31 more than doubled to $215,529. . * Because of business pros* ■ pects and export sales al- • 7 ready achieved and in pro: ;duction, they expect main-'’ Itaining this level of dividend lon the increased capital in ? (the June. 1981, year. ' I The increased capital will be used to provide the addi.. .tional funds necessary th [support the company’s ex, panding activities on export ! and domestic markets.