COMPANY AFFAIRS.
FLAX BONDHOLDERS. Representative meetings of bondholders in the Provincial Flax-growers and Millers' Association, Ltd., and in the Flaxgrowers' Pulp and Cellulose Products of New Zealand, Ltd., were held in the Chamber oi' Commerce Rooms ou Saturday, December 30, 1933, for the purpose of considering the advisability of converting their bonds into fully-paid shares in a new company, New Zealand Pulping Mills, Ltd., to be registered for the purpose of combining the interests of the bondholders of the two companies with the interests of tbe present bondholders in these two companies.
After the trustee had explained the advantages to be gained by bondholders, which he declared to be substantial, an extraordinary resolution giving effect to the proposals was put to each of the meetings of bondholders and carried. The trustee informed the meeting that, judging from large correspondence received, at least 95 per cent of bondholders in the country were in favour of converting their bonds into share capital.
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Bibliographic details
Auckland Star, Volume LXV, Issue 1, 2 January 1934, Page 4
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160COMPANY AFFAIRS. Auckland Star, Volume LXV, Issue 1, 2 January 1934, Page 4
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