Business in brief

Press, 8 March 1984, Page 28

Business in brief

Witiora report

Drilling in the Witiora-1 oil exploration well off Taranaki has progressed to 3384 m where the hole has been logged.

Stewart Petroleum said yesterday that during the last week the base of the limestone seismic marker was encountered at 3070 m, much is expected. and, at the present drilling rate, major targets in the hole should be reached within the next seven daj-s. Equiticorp shares Teltherm, Ltd says its shareholders will be entitled to one ordinary and one specified preference share in Equiticorp Holdings, Ltd, for every two Teltherm ordinary shares held. They will also be entitled to one ordinary and one specified preference share in Equiticorp tor every four specified preference shares in Teltherm. The entitlement applies to all shareholders in Teltherm as at March 21 and the entitlement is non renounceable. Goodman issue ; Goodman Group, Ltd directors are to call an extraordinary general meeting at < date yet to be set in May for. shareholders to approve a one-for-five bonus issue on alt ordinary shares. The 14 per cent convertible specified preference shares will rank for the bonus oq redemption in 1988. The bonus shares will qualify for the full final dividend which is exj pected to be paid next August." W. Neil div. ",

Wilson Neil, Ltd says an interim dividend and distribution of 4.5 c a share will be paid on Friday March 23.

Of this amount, 2.5 c a share is to be paid from realised capital reserves (except for those who elect to take revenue profits) and 2c a share from revenue profits of the company. The ex dividend date! is March 16. D. McL. Wallace 1

D. McL Wallace, Ltd says the Examiner of Commercial Practices has approved an application by Messrs Bowkett, Baigent and Jamieson to in, crease their shareholding in the company up to a maximum of 51 per cent of the voting shares issued.