1:10 bonus issue by Walk. Stud
PA Wellington Waikato Stud. Ltd. has announced a l-for-10 bonus issue and a maiden net operating profit of 5566.314 for the 10 month trading period to March 31. With extraordinary items, from sale of land and realised capital profits, the company’s audited net profit was 5964,963. No taxation provision was required.
As foreshadowed in the prospectus, there will be no dividend for the period ended March 31. However, in view of the better-than-expected trading results to date, and the
consequent increase in shareholders' funds, the company's directors decided to make a l-for-10 bonus issue.
The register will close to determine entitlement to the issue at 5 p.m. on July 12, the day of the inaugural annual meeting, which will be held in Matamata. Shares will go ex-bonus on July 10. The terms of issue of the options do not provide for them to participate directly in the bonus issue, but option holders can exercise their options on June 30 with the new shares qualifying for the bonus.
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Bibliographic details
Press, 29 May 1985, Page 35
Word Count
1731:10 bonus issue by Walk. Stud Press, 29 May 1985, Page 35
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