WOOL WORTHS (W.A.) LIMITED

Dominion, Volume 29, Issue 201, 22 May 1936, Page 14

WOOL WORTHS (W.A.) LIMITED

Bonus Share Issue of Two for One Woolworths (AV.A.), Limited, propose to capitalise undivided profits of £63.260 by the issue of bonus shares in the proportion of two for one. In a circular to shareholders it is announced that an extraordinary general meeting of Woolworths (W.A.I. Limited, will be held ar. the office of Woolworths. Ltd.. Sydney, to deal with a special resolution recommended by the directors that the capital be increased from £60.000 to £200.000 by the creation of an additional 140,000 ordinary shares of £1 each. Other resolutions Io be submitted to shareholders propose the capitalisation of £63,260. being portion of the amount to the credit of assets revaluation reserve account, comprising undivided profits created by a revaluation of the assets of the company. It is proposed to apply this sum as a special dividend or bonus in paying up in full 63.260 unissued ordinary shares and to distribute such shares among ordinary shareholders in the proportion of Iwo for every one of the ordinary shares held by them on May 26. The new issue' is to participate in any dividend declared in respect of the ordinary shares after June 2. 1936.

The present pnitl-tip capital of Woolworths (W.A.). Limited, is £51.636 in 20.000 8 per cent, ciiinulntive preference shares of £1 each and 31.630 ordinary shares of £1 each. Net profit declared for tho year ended January 31. 1936, was £20,983, after setting aside £5500 for taxation. A final dividend of 15 percent, was paid, making a total of 25 per cent, for the year. The amount at credit of general reserve account is now £26.564. The balance-sheet showed assets valued at £134.424.

The shares of Woolworlhs (W.A.), Limited, were bid for yesterday on the Wellington Stock Exchange at £l2, but there was no offer from holders.