COMMERCIAL BANK.

Auckland Star, Volume LX, Issue 19, 23 January 1929, Page 4

COMMERCIAL BANK.

NEW CAPITAL ISSUE

The terms have been announced by the directors of the Commercial Bank of Australia, of the new issue of capital, of which proposal notice was given previously. The new issue is 500,000 ordinary shares* of 10/ each. These shares are offered to ordinary and preferenee shareholders in the proportion of one share for every seven shares of their present holding. In accordance with the authorising resolution of December 9, 1926. the shares will be issued at a premium of 10/ each. There will be a balance of 41,181 shares in excess of the proportionate allotment. Any shareholder may apply for any number of these shares, and also for those not taken up by other shareholders primarily entitled to apply for them. Allotment will be made by the directors at their discretion.

Payment for the shares, including premium, will be required in four instalments of 5/ each; on application not later than February 28, and on May 31, August 31, and November 30. Interest at 8 per cent will, be allowed on instalments paid in advance. The new shares will participate in dividends in proportion to the amount of capital due and paid in respect of them.