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Thursday, 18 May 1972
Page: 2850

Mr Keogh asked the Treasurer, upon notice:

(1)   How many shares were held by the Commonwealth Government in Amalgamated Wireless (Australasia) Limited, at the time the Menzies Government sold them all to A.W.A. Ltd.

(2)   On what date were the shares sold.

(3)   What was the current market price of. the shares at the time of the sales.

(4)   What is the market price of the shares today.

Mr Snedden - The answer to the honour able member's question is as follows:

(1)   853,956 ordinary shares were held by the Commonwealth Government and were sold to the general public.

(2)   The application list for the 853,956 shares closed on 10th August 1951.

(3)   £2/13/6 was the price per share (par value 10/-) of the shares paid to 8/6 in the last sales on the Sydney Stock Exchange prior to the suspension of trading in the shares in July 1951 at the Company's request, following the Government's announcement of its intention to sell its shareholding in the company.

(4)   $1.46 was the last sale price on the Sydney Stock Exchange, on 1st May 1972, of fully paid stock units (par value SO cents). It is appropriate to mention in this context that, according to the Sydney Stock Exchange Company Statistical Service, the paid up capital of the Company has increased since August 1951 from £709,494 to $8,096,417 at 30th June 1971 through new share issues, including bonus issues. The par value of shares was halved in July, 1955, thereby doubling the number of shares on issue at that date.

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