National Omnibus and Transport Progress.
Page 39
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In a communication to shareholders, the National Omnibus and Transport Co., Ltd., draws attention to the fact that, during the current year, the company has acquired the following businesses :—Hardy Central Garage Co., Ltd., of Barnstaple ; S. Edwards and Co., of Bude ; Major Rowlett, of Stroud ; Smith and Ffoare, of Portland ; W. J. Anstee and Sons, of Cranfield ; and J. Kershaw, of Nortb Petherton. In addition, the company has, as mentioned in our issue of last week, entered into an agreement whereby it acquires the businesses of the Devon Motor Transport Co., Ltd., and its associated concern, the Cornwall Motor Transport Co.
The total cost of these businesses is approximately £265,000, apart from further heavy capital charges for new roll ing stock and garage buildings. To provide additional capital the company decided to offer to its ordinary shareholders 31,250 7 per cent. cumulative preference shares of each at par and the same number of ordinary shares of £1. each at 24s., of which 4s. is premium. The preference shares will carry interest from January 1st next and the ordinary shares will be entitled to receive the final dividend for 1927, this being payable in March next. In connection with this issue the list is due to Close to-day (Tuesday):