N.Z. FOREST PRODUCTS, LTD.

Dominion, Volume 29, Issue 149, 19 March 1936, Page 12

N.Z. FOREST PRODUCTS, LTD.

Issue to Bondholders The report of New Zealand forest Products, Limited, to be submitted at the statutory meeting in Auckland on March 23. states that of the total number of shares (approximately 170,000; to be allotted pursuant to the order for incorporation made by the Bondnolders Incorporation Commission, dated December 18, 1935, and made under section 16 of the Companies (Bondholders)’ Incorporation) Art, 1934-35, there nave been allotted at the date hereof 141,498 shares of £3O each. The whole of these shares have been issued to bondholders of N.Z. Perpetual Forests, Ltd., in exchange for bonds acquired by the company pursuant to the said order for incorporation. Of these shares) 117.634 have been issued as fully-paid otherwise than iu cash and 23.864 have been issued paid up, otherwise than in cash, to varying amounts as stated in the said order, tile total amount paid up on such partly-paid shares.being £344.775/8/6. The total amount of cash received by the company in respect of the said 23.864 shares issued as partly-paid is £30,249 0/1. This includes only those amounts received of which advice has been received at the registered office of the company on or before February 17, 1936. No cash has been received on the 117,634 shares allotted as fully-paid and referred to in the previous paragraph. The following is an abstract of the receipts and "payments of the company made up to February 17, 193 G — Receipts: Instalments on ordinary shares, £30.249/0/1 ; loan from The Australasian Forestry Bondholders’ Trust Co.. Ltd., as per order for incorporation. £3OOO. Payments: N.Z. Perpetual Forests, Ltd., payment on bonds. £30.249 0/1: preliminary expenses, registration of company, stamp duty, and annual license, £371/10/6; allotment lists, circulars to shareholders, etc., £lll6/4/10; balance in bank, £1512/4/8: total, £33,249/0/1. The total amount of preliminary- expenses is estimated at £lO.OOO. The names'of directors are as follow:— William Fraser, Auckland; Henry. Lour don Smith. Sydney; Horace Edward Pearce Bracey, Sydney: Kex Dou. Kennedy, Brisbane.