Carpenters' Share
p. 155 · Read in the full issue
In Woolworths
The W. R. Carpenter chair man, Mr. R. B. Carpenter, an nounced at the annual meeting on November 23 that Carpen ters are purchasing the shares held by Rockman interests— about 5,000,000 —in the Wool worth chain-store company and are issuing some new capital to take care of the deal—which might require £3 million. The price being paid for each 57share was not stated—some fi nancial writers guess it is about 12/-, compared with the current market price of around 13/6.
The deal will bring the Carpen ter issued capital to over £2O millions.
It is a curious coincidence that the two biggest Islands trading corporations—Burns Philp and Carpenters—will now be large shareholders in Australia’s two largest chain store companies— Burns Philp in Coles, and Car penters in Woolworths; and in each case the holding is around 10 per cent.