Page 8 Advertisements Column 5

Dominion, Volume 3, Issue 747, 21 February 1910, Page 8

annum,, to .'.be •. divided '.'-among'• tttem' as they may determine, and, in default of such determination, equally. The remuneration shall •be deemed to accrue from day to day,' arid shall, .be appbrtionablo accordingly. The Directors shall also be Entitled-.to receive: in each year, a 'sum equivalent to-s'per. cent. the net profits. of the.' Company'available-for- distribution' after ' making ."provision; for a dividend at •tlie'>'rate.'of i'Si- per -cent per aimuni oirthe Ordinary Shares. Such additional' remuneration shall be- divided among.'the Directors as thev may deter-mine,-and, indefault : of such determination, equally. .

> 00. If, nny .Director, shall' go or. reside 1 abroad on ihe ..Company's {business,'-or 1 otherwise render-'.'any sepices,' whether ) of temporary "or ,copitiiiuiils ' nature, for \ which' in ■ the opinion of the; Board • his ' ordinary. remnnerationuiicler. the , lust. 1 preceding. Article i' is. inadeiiHat«, ,£fo 1 Board 'may ..arrange' with sucli iDirectoiv ' for . such •special' remuneration»'for'- tho { siiid services..' either' by way of salary, : commission-, ■or ~the payment", of a stated' - sum of money, or otherwise as tho Direc- ( tors -in' 'their absolute • discretion may i think -.fit. 1 And' the "said special rem-ii- ! neration : shall .be' in addition to .any. re- 1 mu'neral.io.n -to A which siich' Director would I be" entitled' -under: the ■. last' preceding Article. . ... - ■;.■ ! .107. The Directors..may from time to : I time appoint oiie. or more of "their body to -be: a' Managing Director or Managing ' Directors of•;the Company, and may,.fix his'or'.their remuneration, either by way of.salaiy or .commission, or by. conferring a 'right. to participation in the' pro- | fits of tho Company,' or by a:combination of two or' mo'ro of those, modes. : 115. The Directors may.fix.and pay the ..remuneration of any; Local'Board or of tile Local "Managers in;shch manner, as they shall ■ think fit," and .'may remove any Local. Manager., or Local" Managers and ajipoint "another" or others,.in ;his or their place or places. j The. following Article .defines the right of voting'at meetings l of the Company.— 77. Upon a show.of'hands: every -Member present .in'-person.-shall'haver.'one vote only. Upon, a poll every Member present in' person ■or • by-' proxy shall have one ■ vote * for -every Share 'held -by hini oil .which there .'are no' calls in.linear. . Tho Directors of this Company. ' are also' interested .in the ' Vendor Company to ■ the' following extent:—The Earl of Kanfurly and-Mr. Duncan- Elliott.Alves as Directors :and :as holders of onediaro of JDIOCO each, the'-Hon. John- Greeley Jenkins,; Sir Westby Brook Perceval,and Mr. \V. A. Horn as the holders'of one. share of iJIOOO each, and' Mr. Duncan Elliott : Alves as being, "beneficially ' entitled to five'' shares of J3IOOO. each. Under Agreement No'. 24 the said'Dimcan Elliott , Alves was beneficially entitled to onemoiety of the shareof'JJlOOO in the Vendor Company vested in Benjamin Newgass; but under Agreement Dio. f 25: the siid Duncan Elliott Alves sold such moiety to- Edward - Reginald Harvey, who is now the beneficial owner thereof. : Under agreement No. 23, - the said Hon.- J. G. Jenkins'holds the share of .£IOOO in the Vendor Company, vested in him in trust for himself and Charles Alfred Darling,' William ' Dalrymple Anderson, :and-Ernest Edward-Head in equal, shares. The minimum- subscrip- , tion upon which tho Directors.may pro-, oeed to- allotment- is, .£250,000,■ but the Directors will not proceed •to allotment until :.they:have received' information that the amount 'applied for in Australasia is sufficient with the. amount applied for in England '(inclusive, of the shares to bo allotted . to : underwriters) to mate a-total- of _ .£500,000. Tho amount' payable on: application is 2s. 6d. per share, and the amount pay- : able on allotment 2s. 6d. per share. The immediate Vendors to and Promoters of ■ the Company are Papuan Lands, Limited,: whose'registered office, is situate at: 26 Old Broad: Street,-' London, E.C. . 1 The following Contracts, which may be deemed-to be material, have been entered' into:— . . : 1. "An. Agreement dated the 18th January, 1910, -and made' 'between: Papuan. Lands, '.Limited,, of.-the'' one- part, .and Samuel' Spencer, as trustee -for and: on behalf, of a Company intended to : be. formed (being: this Compiuiy)'of : the other part.': Under this. Agreement the Vendoi Company' is to be paid' for the properties '. to'bo. acquired by the'Compahy., <£275,000, of which .£52,000 is to be paid in cash and the balance by the isshe' and allotment to the Vendor Company or its nominee or nominees of 223,000' Ordinary' shares in ' the Capital of the"Compariy credited as Mnsson of the one part and Papuan ■ dor Company for the same consideration ,- agrees' to assign to this Company the 1 benefit of Contract. No.' 26. below:' men- >.. tioried. . ' :. .. 1 ;2. An Agreement .dated' the 4th-Sep-tember, 1303, .and,..made ;,bet'ween John L Macdiinald, : Archibald Alexander Hislop " Hunter,- Allan Macgregor' Sinclair, Evelyn James Metcalfe, George Love Warry. '• William Millett -Christian, , and Claude Musson of "the one ; part and Papuan f- Lands, Limited, of the other part. ~ Under I; this 'Agreement -30,000 :of the' above-men- - .tioned 223,000', Ordinary shares are to -be r. allotted to Claude :Musson,.'of 151 Elizaf beth Street, Brisbane, Queensland, • for r and on behalf of; himself, and John Mac- • donald (Civil Servant), Archibald Alexo ander Hislop Hunter. (Master' Mariner), '• and' Allan Maosregor-Sinclair (Merchant), all'of Port Moresby,-in the-Territory of 0 Papua; Evelyn' James Metoulfe,'of. Welr > lington 'Club,'.' London' (Gentleman);. George S Lovo. Warry,- of" -.'Queensland (Merchant), aiid. William 'Millett Chrise tionj 'of Sydney, -New 'South "\Vales (Grajr Sier)> wfco may be Vendors .within the