Monier, Rocla to merge
p A Sydney ‘Monier, Ltd, and Rocla Industries, Ltd. will merge under a take-over proposal wherebv Monier will bid for all Rocla's issued ordinary capital, convertible notes, and preference shares. Terms will be five Monier shares for each nine Rocla ordinary shares plus 75c for each Rocla share, with a cash alternative of 160 c a share. There will be comparable offers for the LI million convertible notes, and a "realistic" offer for the 300.000 preference shares. Based on a last sale price for Monier of 169 c on Friday, the scrip and cash offer is
worth 169 c a Rocla sharo (Rocla closed in Melbourrt on Friday at 142 c, opened yesterday morning at 150? and went to 160 c when the proposal was announced - 32.000 shares changing hanX in the first hour). K The new Monier shares will rank equally with exist ing units for the final dividend for the current year payable in October. The Rocla board has unanimously recommended the basis of the merger At the cash alternative price, the offer values Rocla's ordinary capital at $35.8M. Rocla's net tangible asset backing is 123 c a share.'
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19810428.2.102.9
Bibliographic details
Press, 28 April 1981, Page 20
Word Count
195Monier, Rocla to merge Press, 28 April 1981, Page 20
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.