INCREASE OF CAPITAL

Grey River Argus, 1 September 1948, Page 3

INCREASE OF CAPITAL

WELLINGTON, Agust 30. A proposal to increase the capital of J. J. Niven and Co.. Ltd., by 50,000 additional shares of £1 each will be submitted to shareholders for approval at the fortieth annual meeting on October, 6. If endorsed, the shares will be offered to existing shareholders at a premium of 7s 6d a share, the total amount of 27s 6d being payable on application, with the rightof renunciation. This w^. ri I c^. c .^^ se the company’s capital to £250,000. The directors ■ also announce the payment of a dividend of 7- per cent, (unchanged). Last year s dividend included a bonus of 3d. Dividend will take £15,000, the sum of £15,000 is transferred to general reserve (£oooo in 1947), and £lO,OOO is earmarked for a dividend equalisation reserve, leaving a carry-forward of . £24,488, as against £23,264 brought m. Last year the company restored at a cost of £30,000. the 3s per share that was written off the £1 shares in 1904. The shares will be ex dividend on September 30, and ex rights on October 6. —