TIMARU BREWERY

Wanganui Chronicle, Volume 79, Issue 112, 13 May 1936, Page 11

TIMARU BREWERY

PURCHASE PRICE REPORTED. Tire purchase price of the Timaru Brewery Company’s business as a going concern, reports the Christchurch Star-Sun, will be approximately £64,480, according to advice received from a reliable source. This represents a return of about 15s 3d for each fully-paid 10s share. The offer, which is authoritatively stated to have been accepted by the directors of the Timaru Brewery Company, Ltd., will be submitted for approval at an extraordinary general meeting of shareholders to be held on May 25. The diretcors held authority to negotiate the sale of the brewery as a going concern, but their actions require to be confirmed at an extraordinary general nreeting of shareholders, 21 days’ notice of which were necessary, and the circular which has been issued to shareholders is in accordance with that procedure. The balance-sheet for the year ended February 29 showed that the paid-up capital of the Timaru Brewery Com pany was £42,282, all of which represents 10s fully-paid shares, and on the basis of prospective purchaser's offer of 15s 3d a share, which is very close to the present Stock Exchange rates, the total purchase price will be equivalent to £64,480.