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This newspaper page contains 9 articles. Subscribers can read the full text of each article.
Newspaper
Canberra Times
Location
Canberra, Australian Capital Territory, Australia
Date
Jun 14, 1969
Page
9
Directors of Nutt and Muddle Holdings Ltd based in Sydney said negotiations were underway with a prominent public company regarding a possible takeover offer. Shareholders were advised not to sell their shares as the talks proceed. The firm has sold poker machines in Australia and overseas with earnings rates above 30 percent on capital.
Bushells Investments Ltd reports another strong year for the group, with after tax earnings rising to 1,539,000 dollars from 1,325,000 the prior year. A one for five bonus share issue is proposed, lifting paid up capital to 5.1 million dollars and boosting the dividend to 6 0 percent if approved at the annual meeting. Books close July 4 entitlements determined.
Bridge Oil NL reported its 60 million share issue heavily oversubscribed. The 30 million shares at 25 cents each were paid 1c, with 30 million paid. Certificates are expected mailed by June 20 and listing on June 24. Underwriters are Rudd Bain MacDonald & Co. Explorations begin soon with two areas 100 percent held and two farm-ins. Areas span New South Wales, South Australia, Queensland and gasfields in SA.
Ozapaper Ltd announced a lapse of its offer for Drawing Office Industries Ltd and reported higher six months sales for Clifton Brick Woldings. Directors said profits for the full year would exceed last year as Ozapaper aimed to raise capital, while Consolidated Reprographics noted a 451 percent year on year improvement.
A business opportunity invites a successful applicant to obtain an exclusive distributorship for Canbern in the area. Includes sales promotion aid and technical assistance. Approximate capital required $12,000, fully secured by Block.
Clarks Shoes Australia Ltd announced six months to May 2 sales at about 434 cents, slightly above the prior year. Net profit rose due to a lower tax provision from past losses. Directors expect to maintain the 2 percent bonus dividend and pay a 5 percent interim dividend on August 8. Books close July 28 for the interim dividend.
BP Shell Todd Exploration Consortium Ltd says it will drill its first test oil well in Canterbury in mid August in the Selwyn River area and a second test well on the Canterbury Plains among six possible sites, with offshore prospecting licences sought for Banks Peninsula and Chatham Islands amid ore and silver returns.
A board split led by Mr Brudenell Woods triggered resignations from Endurance Mining directors Murray and Maguire. The dispute centered on the company's Tasmanian schemeelite deposit exploration and a proposed proxy battle. The firm’s statement defended the exploration program run by Hall Relph and Associates and claimed the resignations align with the best interests of the company.
Australian stock exchanges except Perth will be closed on Monday for the Queen's Birthday holiday, affecting trading and settlement windows. Banks and financial services may operate under holiday hours with reduced staff.
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