COMPANY AFFAIRS

Wanganui Chronicle, 7 November 1950, Page 6

COMPANY AFFAIRS

TOOHEY’S NEW ISSUE Toohey’s, Ltd., brewers. Sydney, advise that the directors have authorised issue of 433,125 shares of 16/- each at a premium of 10/- in the proportion of one for five held. The new shares are payable in four equal instalments of 6/6 each (4/- capital, 2/6 premium? firsi payment being on application on or before January 31, 1951, and the other instalments as and when called on at intervals of not less than six months. Shares become ex rights on January 13. 1.C.1. ALLOTMENT Of the 13,319 applicants who asked for 6,885,592 ordinary 11 shares at 2/6 premium in the ordinary issue of Imperial Chemical Industries of Aust, and N.Z. Ltd., only 4193 will receive 100 shares each. The allotment will be decided by ballot, and will average one share for about 16 sought. The issue totalled 1,006,505 ordinary I’l shares, but only 419,375 were available to the public generally. The underwriters, J. B. Were and Son. took 550,000 shares firm, and the company's pension fund was alloted 37,130. AUSTRALASIAN PAPER The Australasian Paper and Pulp Co., Ltd., Melbourne, earned a net profit of £232.244 for the year ended September 30, against £182.415 in the previous year. Dividends are unchanged at 8 per cent, on preference shares and 6 per cent, on ordinary shares, and require a total of £232,084. Dividends arc being paid on a pro rata basis on new issue shares. During the year paid capital was increased from £3,305,410 to £4.137,901, bringing total consolidated shareholders’ funds to £5.417,152. The consolidated profit of the company and its subsidiaries rose from £266,825 to £361,220. The result includes £57,771 equity of outside shareholders, compared with £59,002 in the previous year. QUEENSLAND INSURANCE Directors of Queensland Insurance Co., Ltd., have recommended to shareholders an increase in capital to £2 million by the creation of one million new ordinary shares of £1 each. If the proposal is approved it is proposed to issue 750,000 shares in the proportion of one for one held. Applications will close on March 31 next, 5/- to be paid on application and 5/six months later, the remaining 10/- to be called up as and when required. Shares will become ex rights on January 31 next.