N.Z. PAPER MILLS
NEW ISSUE OF £50,000 AT PAR. (By Telegraph—Press Association.) DUNEDIN, May 5. A t net profit of £12,795, compared with £9773 last year, is shown in the annual report for the year ended March 31 of New Zealand Paper Mills Ltd. The directors are offering the 50,000 unissued shares in the present capital of the company to shareholders at par in the proportion of one for three. The shares are to be offered at par in proportion to shareholders’ holdings, but without regard to fractional interests. The distribution will be one for three to registered on May 4. The terms of issue are 5s a share on application not later than May 31, 5s on allotment, June 30, and payment of balance by two calls of 5s a share on September 30 and December 31 respectively. The directors recommend thaf a final dividend of 4 per cent (making 7 per cent for the year) be paid, which will absorb £6OOO and will leave to carry forward £15,042 17s 3d.
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Wairarapa Times-Age, 6 May 1938, Page 3
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172N.Z. PAPER MILLS Wairarapa Times-Age, 6 May 1938, Page 3
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