ELECTROLYTIC ZINC

Dominion, Volume 34, Issue 228, 23 June 1941, Page 3

ELECTROLYTIC ZINC

New Share Issue RESERVE BANK ARRANGEMENTS The Reserve Bank of New Zealand announces that the Stock Exchange Associaiiou is- being advised today that, with regard to the new issue of the Electrolytic . Zinc Company of Australasia, Limited, shares to existing holders, arrangements are being made on the following basis to enable New Zealand holders who so desire to take up their rights. 1. Holders may at their discretion use either Australian balances held by them or the proceeds of the sale of their Australian marketable investments other than Electrolytic. Zinc Company of Australasia. . Limited, shares. 2 Holders who have no other marketable Australian investments or balances will be allowed to remit from New Zealasd'Halders whose other investments and balances are together insufficient to provide the requisite amount will oc allowed to remit the difference. Persons who, for the purpose of the above arrangement, desire: fa 1 To dispose of Australian securities. should consult their brokers;. fb > To operate on their accounts in Australia, whether by cheque or other authority, should apply to their bankers for the necessary certificate; „ fc’t To remit from New Zealand, should applv for a permit through their bankers. If the reason for the applicationi is that the applicant has since June Jb, L4v, voluntarily remitted funds to New Zea land from Australia, that fact, together with the amount, should be stated and such applications will be treated on their me in addition holders of Electrolytic Zinc Company of Australasia, Limited, shares who desire to acquire rights winch other New Zealand holders are willing to dispose of will be allowed to do so on condition that they can provide the amount payable in Australia in res l’®"’ of such additional rights, as well as for the rights to which they are directly entitled. out of the proceeds ot the r balfinces or other securities in Australia. The Reserve Bank will, however, conSider applications to re-transfer to Australia for the above purposes amounts voluntarily transferred to New Zealand since June 18. 1940, if the applicant* financial position in Australia justifies payable to New* Zealand holders must, of course, be paid in New Zealand currency. , This procedure is on the same lines a was adopted for the recent issue of shares nmde by the Broken Hill Proprietary Company, Limited.