Page 11 Advertisements Column 1

Press, Volume LVI, Issue 16985, 6 November 1920, Page 11

Abridged Prospectus• ROC PAINTS LTD. A Coiupauv being Incorporated under the provisions of "The Companies Act, 100 S." CAPITAL - - £50,000 In 25,000 £17 per cent. Preference Shares , and 25,000 £1 Ordinary Share* 10,000 7 per cent. Cumulative Preference Shares and 7,350 Ordinary Shares are now offered for subscription on the following terms : — 2/6 per Share on application ; 2/6 per Share on allotment. Balance as (and if) required in calls of not more than 2/6 per Share, at intervals of not less than one month. (Shares may bo fully paid up on allotment, Ond Ac Prefcrcncc Shares so paid shall be entitled to dividend at tho rate of 7 per cent, per annum from date of payment. The minimum subscription for Shares upon "which tho Directors may proceed to allotment is fixed at 7,350 {shares, cither Preference or Ordinary Shares, or comprised partly of one, and partly of the other. Directors: ARTHUR WILLIAM .TAMIESON, Christchurch, Company Manager. ROBERT HENDERSON WILSON, Christchurch, Company Manager. JOHN WALTON BEANLAND, Christchurch, Building Contractor. STANLEY WYNNE JAMESON, Christchurch, Public Accountant. WILLIAM OTHO MOKBIS, Christchurch, Paint Manufacturer. Bankers : NATIONAL BANK OF NEW ZEALAND LIMITED, CHRISTCHURCH. Solicitors : PAPPRILL, SALTER and GRESSON, SS Hereford St., Christchurch.. Interim Auditor : 11. T. WHITTINGHAM, F.P.A. (N.Z.), IGI Hereford St., Christchurch. Chief Christchurch Brokers : HAMILTON and HAMILTON,* 90 Hereford Street, Christchurch (Applications may be made through any member of tho Christchurch Stock Exchange, from whom Prospectuses may be obtained.) Secretary: P. HAELE, A.P.A. (N.Z.), A.I.A. (N.Z.), of Wm. Jameson, Son & Harlc, 213 Manchester Street, Christchurch. PROSPECTS . Thp manufacture of paints is an industry which, owing to the very small number engaged in it, offers great opportunities in this country. Tho local supply is absolutely inadequate for tho most urgent needs of tho community, and consequently, recourse has to be made to imports. There is no need to labour the fact that theso circumstances combine to good priccs, and present splendid opportunities for marketing commodities of exceptional value at ft. reasonable figure. The Shareholders of "Roc" Paints Limited will not be faced with • tho usual disadvantages attending a new company, as-, briefly, tho factory is complete, ijaw materials aro constantly arriving, labour has beon procured,.valuable recipes arc available for tho immediate output of ' lines of exceptional quality at priccs which defy competition ; custom and other advantages attached to long-established businesses aro available to Shareholders without the corresponding necessity for any pay- > ment fof that intangible asset—goodwill. Tho necessary machinery is already in transit ex "s.s. Paparoa," and tho Company will commence trading operations and place its products on tho market almost immediately on tho steamer's arrival in January. It is impossiblo to gauge with any degree of accuracy what the Company's output will be from its factory, but in one lino alone (stiff paints in oil) it is estimated that 3 tons per week (representing a turnover of approximately £10,000 per annum) can bo produced im- • mediately, and sold at a price returning, a. gross profit of £20 per ton ; or in round figures an annual gross profit of £3,ooo—more than suihcient to pay tho whole of the estimated annual expenditure on revenuo account for the first year. Thcso figures' are based upon the present market priccs of raw materials, anil of tho finished product, and aro arrived- at as under:— Ist Quality; 2nd Quality Actual cost of raw materials, per cwt. of oxido in"oil .. •• •• 48 /9 00/ll Packing materials and labour, calculated on the basis that one man can manufacture . and pack ready for delivery 10 cwt. per day .. •• ■ Gross cost (materials and labour) per cwt. 53/9 . 40/11 Present wholesale selling price per cwt. of similar commodity of same quality .. 7*/- bi/ " Estimated gross profit per cwt 20/3 20/1 Theso figures show a gross profit of 25 to 30 per cent. ON THE TURNOVER IN THIS ONE LINE, and at least the same average rate or profit can be looked for on other lines. Assuming the existence of keen competition (and this is a negligible Quantity) the Company has to show during the iirst year AN ANNUAL TURNOVER OP APPROXIMATELY £17,000 ONLY IN ORDER TO PAY EXPENSES AND A DIVIDEND OF 10 PER CENT. ON A PAIDUP CAPITAL OF £20,000. Of this turnover tho ESTIMATED SALES OF STIFF PAINTS IN OIL ALONE REPRESENT OVER ONE-HALF. / ____________ application for shares To the Provisional Directors of "ROC PAINTS LIMITED, 213 Street, Christchurch. (Being Registered under "Tho Companies Act, 190 S.") Gentlemen, . Ordinary I hereby apply for p re ference Shares of £1 (Ono Pound) each in "ROC PAINTS LIMITED/' to bo allotted to mo upon the terms of the_ Prospectus issued m relation to tho Company, dated the Sixth" day of November, 19A and I hereby agree to accept"the same or anf smaller number oi Shares that may be allotted to me. I cnclose £ ... ••• • • -being ' application money of 2/0 per Share upon the number applied for, and 1 undertake to pay the sum of 2/6 per Share when tho Shades aro allotted, and tho balance in calls as may bo determined by tho Directors, l urthennore, I authorise you to register mc forthwith as tho f holder of the eaid Shares, subject to the provisions of the Memorandum and Articles of Association. «• I Name ih full .Address Occupation Date day 0f....*. ISS.^.. Signature .. DECLARATION RB NATIONALITY. JU-bein" a British subject, hereby declare that I am not a person resident or" carrying on business in any country at war with Great Britain or treated as an enemy under any proclamation rclatmg to tradiil" wTth tho cnemv, or mentioned, or a member of a body ot persons mentioned in tho Statutory List under the • Trading with the Enemy • Proclamations, or an enemy subject within the meaning ot the Jar t t> i f*r>na Artq 1114-17 '%and Regulations made thereunder, and that in ROC "PAINTS LIMITED was not made for tho benefit of any person as aforesaid. Name in full Usual Signature Signature of Witness Address of Witness... - Occupation of Witness * tw , • . New Zealand, this Dated at ■ f •...192.... ...day ox 5 ~152; r— ——————-