COMPANY AFFAIRS

Wanganui Chronicle, Volume 83, Issue 50, 1 March 1939, Page 11

COMPANY AFFAIRS

BOND’S HOSIERY MILLS INCREASE IN DIVIDEND Bond’s Hosiery Mills (N.Z.), Ltd., yesterday advised the Stock Exchange Association that the directors propose to recommend to shareholders at the annual meeting on March 24 a dividend of 7h per cent, for the year ended January, 1939. The dividend is payable on March 24. Transfer books will be closed from March 17 to 24, both dates inclusive. The dividend for the previous year was 6 per cent. N.Z. PERPETUAL FORESTS LTD. COMPANY TO LIQUIDATE Special resolutions are to be submitted to an early meeting of shareholders of New Zealand Perpetual Forests, Ltd., involving the liquidation of the company and the distribution of its assets to shareholders. In an advice to shareholders issued to-day, the chairman of directors, Mr. W. Fraser, stated that with compounding and its attendant adjustments practically completed, the remaining purpose for which the company was established is now the responsibility of the bondholders’ company’s, New Zealand Forest Products, Ltd. The directors remind shareholders that they are now individual shareholders in New Zealand Forest Products, Ltd., and that their aggregate holding constitutes an important interests in that company. The chairman states that accounts of New Zealand Perpetual Forests, Ltd., as at September 30, incorporating the adjustments necessary upon compounding, are in an entirely healthy condition. The directors are of the opinion that the liquidators will be in a position to make an early first distribution in the form of a partial return of capital, and at intervals thereafter such further distributions as may reasonably be expected. To facilitate the work of the liquidators it is proposed to submit a resolution to shareholders empowering them to realise on certain of the company’s assets, accepting part payment in each spread-over period and the balance in shares of the company purchasing the asset concerned.