Page 16 Advertisements Column 2

Press, Volume CVIII, Issue 31726, 9 July 1968, Page 16

<9 TO ALL SHAREHOLDERS IN U.E.B. INDUSTRIES Ltd. RE PROPOSAL TO INCREASE PREFERENCE DIVIDEND In order to dispel the misunderstanding which appears to exist regarding this proposal, the Directors of U.E.B. Industries Ltd., wish to draw the Shareholders' attention to the following: 1. The Company requires further working capital to finance the increasing volume of business being transacted. 2. It will be seen from the Balance Sheet that, to conform to accepted financial practice, this should be provided in the form of Shareholders' funds, 3. The Company has some $BOO,OOO worth of preference shares unissued. 4. It is quite unrealistic to imagine these shares being taken up at par when the market price is 7i% below par. 5. It is impracticable to issue these shares at a discount. 6. It is the considered opinion of the Directors and their advisors that to provide the additional working capital by the issue of these preference shares is in the best interests of the Company and the ordinary Shareholders. 7. Hence the proposal to increase the preference dividend and so restore the market value of the Company's preference shares, thus making the issue possible. 8. It might be added that arrangements have been made—subject to the increase in dividends—for virtually the full amount available to be placed at par at no cost to the Company. For and on behalf of the Board of Directors, A. P. SAKER, (Secretary).

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