COMMERCIAL MIKONUI GOLD SHARES TO BE SOLD TO OVERSEAS INTERESTS

Greymouth Evening Star, 16 April 1947, Page 10

COMMERCIAL MIKONUI GOLD SHARES TO BE SOLD TO OVERSEAS INTERESTS

. The directors of Mikonui Gold Dredging . (N.Z.), Ltd., have advised shareholders that arrangements have been made foi? the. sale to overseas interests of all the -shares of the Mikonui Company. The sale of shares applies to both ordinary and deferred shares, for all of which a flat rate of not less than 2s a share will be paid, provided that check drilling- confirms the, bore values set out in the company’s prospectus. , Because check drilling will require two weeks for'each bore drilled, and to provide safeguards against other delays, the purchaser has insisted that the shares • should lie placed under option for 12 months. It is a condition that options and transfers must include an the shares: no option over ordinary shares will be accepted if any deferred shares are witnneld. + ■ The company went to allotment just before war broke out in 1939, but as a result of hostilities and the emergency demand for steel it was unable to proceed with its plans to erect a huge new gold dredge on Mikonui Flat, near Ross. The proposed dredge, which was to dig to depths up to 120 feet, was much larger than anything previously constructed- in Australia or New Zealand, and was to have cost at least £230,000. It was designed in New York. ~ Woolworths, W.A. —The ordinary share books of Woolworths (W.A.), Ltd., will be closed for capital issue purposes on April 30, and the last date on which transfers may be lodged will be April 29 at 5 p.m. Advice to this effect has been received by the Stock Exchange Association of New Zealand. Cumberland Paper Board. — ine Cumberland Paper Board Mills, Ltd., have announced interim dividends at the rate of 6 per cent, a year ordinary and-6.2 per cent, a year preference for the half-year to March 31, payable on April 30. Books will be closed to. April 22. Austral N.Z. —tor 28 days to.-A-pri) 12 the return was 459 ounces in 288 hours from 174,000 yards. N.Z. Investment Co.-After provision for taxation, the accounts oi the New Zealand Investment Mortgage and Deposit Company, Ltd., show a net profit of £2343, compared with £2043 last year. With the carry-forward of £2490, there is a total of £4833 in the profit and loss appropriation account. Of amount, an interim dividend of 2 2 per cent. (2 per cent, the previous year) absorbs £BB7, and the final dividend of 3 per cent, (unchanged), making 5A per cent, for the year free of income and. security taxes, absorbs £1065. The reserve fund stands at £21,000, and 2881 is carried forward. Taxation provision is LIBJU, compared with £2OlO last year.