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Finance.
527
Debenture Debt
3i per cent. First Mortgage. Outstanding £3,500,000. Redeemable on or before December 31, 19S4, by cumulative sinking fund. Company reserves right to repay at £101 per cent, whole of stock on or after January 1, 1963.
3! per cent. Second Mortgage. Outstanding £1,500,000. Held by Odeon Theatres.
Net Profits and Dividends
Year to June, 1947 — Profit : £114,413. Dividends : 5.S7 per cent, tax free.
Share Price Record.— Ordinary Shares not Quoted.
ODEON PROPERTIES, LTD
/CONTROLLED by Odeon Theatres, Ltd. Company was incorporated to acquire undertakings and assets of a number of companies (now in liquidation) owning " Odeon " Theatres. Carries on business as an exhibitor of films and owns and operates 105 kinemas (all under Odeon Theatres' management), situated in London, suburbs, and provincial cities and towns in England, Scotland and Wales. It forms an important part of the " Odeon " Circuit.
In July, 1946, company purchased from Odeon Theatres, Ltd., 110,000 fully paid shares of £1 in Metropole and Allied Cinemas, Ltd., a company incorporated in Eire, with an issued capital of £200,000 and operating 16 cinemas.
In addition, the company in association with Gaumont British Picture Corporation, Ltd., recently formed Overseas Cinematograph Theatres, Ltd.. each, agreeing to take up at par one-half of the £1,500,000 ordinary capital of that company. ^ Overseas Cinematograph Theatres, Ltd., has agreed to take from Odeon Theatres, Ltd., kinema theatre interests acquired, or agreed to be acquired, by Odeon Theatres, Ltd., in Canada, New Zealand, and Egypt, recouping to Odeon Theatres, Ltd., costs so far paid by it.
Directors : J. Arthur Rank (Chairman) ; F. Stanley Bates, J. A. Callum, D. H. Coplan, T. Davis, L. W. Farrow, L. Lewis, Lt.-Col. Brian Mountain, the Rt. Hon. Earl Winterton, P.C=, M.P.
CAPITAL
Authorised Issued and Paid
£1,000,000 in 4$ per cent Red. Cuin. Pref. shares of £r £1,000,000
£1,500,000 in ©rd. shares of £1 1,500,000*
£2,500,000 £2,500,000 * All owned by Odeon Theatres, Ltd.
Debenture Debt
3£ per cent First Mortgage. Outstanding £3,500,000 redeemable at par on or before December 3r, 1982. Company reserves right to repay at £101 per cent on January 1, 1962, or any subsequent date on giving three months' notice.
4 per cent Second Mortgage. Outstanding £1,000,000 subscribed for by Odeon Theatres, in 1946. Redeemable at £101 per cent on or before December 31, 1977. Company reserves right to repay at £101 per cent on January 1, 1962, or any subsequent date, on giving three months' notice.
Net Profits and Dividends
Dividends,
Year. Profit. percent
To June, 1944 ... £124,971 16.66
* 1945 ... 110,210 ... 14.69
1946 ... 180,905 ... ... ... ... ... ... ... 18.18
1947 ... 293,431 ... 16.00 (Tax Free)
Share Price Resorti:— Ordinary shares not quoted.