NESTLE SEEKING AUTHORISATION FOR CERTIFICATE ISSUE
Nestle SA <NESZ.Z> said it
would seek shareholder approval to issue participation
certificates up to 20 pct of share capital, instead of the
current limit of 10 pct.
    It said it wanted this authorisation in view of future
certificate issues. Nestle's nominal capital amounts to 330 mln
Swiss francs.
    Nestle reported net profits of 1.79 billion francs for
1986, up 2.2 pct from 1985, while turnover fell 9.9 pct to
38.05 billion as the Swiss franc strengthened against other
currencies.
    The parent company's net profit rose to 666.6 mln francs
from 592.9 mln in 1985, and the company planned an unchanged
dividend of 145 francs per share and 29 francs per certificate
after placing 170 mln francs in reserves, against 95 mln last
year.
    The payout represented 27.6 pct of group net profit,
against 28.2 pct last year.
    Nestle said it had also invited Fritz Leutwiler, former
president of the Swiss National Bank and currently chairman of
BBC AG Brown Boveri und Cie <BBCZ.Z>, to join the Nestle board.
 Reuter
