W’bridge plans changes
Shareholders of Westbridge Holdings, Ltd, will be asked at an extraordinary general meeting called for May 1 to approve a name change to Mutual Pacific Corporation, Ltd, and the restructuring of the company’s capital base. Subject to High Court approval to a reduction in capital. Westbridge plans to increase authorised capital to S3OM, capitalise retained earnings, and distribute those funds along with other reserves as ordinary 5c shares. After these moves shareholders will be asked to consolidate the shares into 3,957,584 50c shares. The authorised capital will also be consolidated into 50c units. The directors will also seek approval to issue up to 30 million shares and 10 million options before June 30, 1989.
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Press, 10 April 1987, Page 24
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117W’bridge plans changes Press, 10 April 1987, Page 24
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