Broken II Seeks Additional Capital
SYDNEY, Tue. (1.30 p.m.)—Broken Hill Pty., Ltd., announces that it lias applied to the Commonwealth Treasurer for permission to issue 4,628,300 £1 shares at a premium of 10/- per share.
The present issued Capital of the company is £13,984;002. Additional capital of £6,942,450 is required to assist in mechanising all colliery properties, building more orecarrying vessels, erecting a wide continuous hot-strip mill and cold reduction plants and auxiliaries for the production of steel plates, development of tinplates manufacturing, and expansion of the steel plant at Port Kembla. The major expansion will be at the plant of the principal subsidiary company, Australian Iron and Steel Ltd. PRO RATA BASIS It is proposed to make the offer to shareholders on a pro rata basis, one new share being offered for every three held. The most recent issue was 2,387,966 shares at par in 1941. In 1940 the company made a bonus issue of £4,445,859 in a proportion of 64 for every 100. In 1937 it issued 1,730,405 shares at a premium of 10/- per share. The combined profit fo the company and its subsidiaries for the year ended May 31, 1948, was £1,904,432. The dividend was 81-3 per cent and the company has maintained this rate for the year ending May 31.
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https://paperspast.natlib.govt.nz/newspapers/NA19490524.2.49
Bibliographic details
Northern Advocate, 24 May 1949, Page 5
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215Broken II Seeks Additional Capital Northern Advocate, 24 May 1949, Page 5
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