N.Z. NATIONAL BANK.

Auckland Star, Volume LV, Issue 117, 19 May 1924, Page 8

N.Z. NATIONAL BANK.

NEW SHARES OFFERED. PREMIUM OF TWO POUNDS. A circular has been issued by the directors of the National Bank of New Zealand to shareholders, which reads as follows: —I beg to inform you that the Board of Directors have resolved this month to issue 100,000 new shares of £7 10/ each, £2 10/ called up, at a premium of £2 per share, in the proportion of one new share for every ;ive shares held. To enable the directors to determine the names of the shareholders entitled to participate in the issue, the transfer books will be closed on 23rd instant. On that date application forms will be issued, posted to individual shareholders, with a form of renunciation attached for the use of any shareholders who may wish to dispose of, or renounce their rights. Payments are to be made as follows: — On application June 13, £1 10/ (£1 on share account and 10/ premium) ; on August 1, £1 10/ (£1 capital and 10/ premium) ; on September 27, £1 10/ (10/ capital and £1 premium)* , . Interest at the rate of 4 per cent per annum will be paid on all instalments of capital from the dates of payment above mentioned until September 30, 1924. Payments of the £4 10/ per share may be'made in full on June 13, which will carry dividend for the halt-year ending September 30. The directors anticipate that the dividend and bonus to be declared for the year ended March 31 will be the same as that declared the previous year. During the last fortnight shares in the National Bank advanced on the exchange from buyers at f6 14/6 to sales at £6 16/6, and on Friday evening call an extra eixpence was offered.