Jarden deals complete

Press, 10 September 1985, Page 28

Jarden deals complete

PA Wellington Jarden Corp, Ltd, has completed the merger with Woolrest Corp, Ltd, and the acquisition of Citisite Estates, Ltd, the Wellingtonbased merchant banker reported to the Stock Exchange yesterday. An extraordinary meeting of shareholders on July 5 approved the allotment of 34,000,000 ordinary 1c shares with Woolrest Corp shareholders and 5,250,000 ordinary shares to Citisite shareholders — increasing the issue ordinary capital of Jarden Corp from 40,000,000 ordinary shares to 79,250,000. The effective date of the merger and acquisition was July 1. Jarden said the merger with Woolrest resulted in a strong seasonal earnings pattern.

As a result and conditional on Inland Revenue Department approval, the directors have decided to alter the balance date of Jarden Corp from March 31 to June 30.

Accordingly, the next interim report to shareholders will be for the nine-month period to December 31,1985. Payment of a first interim dividend is expected to be made in early November. A further interim dividend is proposed for early February next year, followed by a final dividend in October 1986 for the period ended June 30, 1986, Jarden said.