REDUCING CAPITAL.
•The directors of Cheneys (Australia), Ltd., motor vehicle distributors, propose to reduce the capital of the company from £1,000,000 in 400,000 8 per cent, cumulative preference shares of £1 each and GO,----000 ordinary.shares of £1 each to £550,000, by reducing the face value of the ordinary shares to 5s each. It is proposed to cancel ordinary capital which bus been lost or is unrepresented by available assets to the extent of 15s per share upon the 347,055 ordinary shares which have been issued, and by reducing the nominal amount, of the 252,945 unissued ordinary shares by the same amount.' The lost capital amounts to £260,286.. Being unable to work a large section of the plant profitably, the directors of Standard Waygood, Ltd., an engineering company in Sydney, propose to reduce the capital of the company by 10s per share of £1 each. Capital will thus be reduced from £369,820 to £184,910. . This will involve'a loss of capital of 7s 9d per.share, or £143,305. Shareholders will receive-the remaining 2s 3d per share as a return of capital.
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https://paperspast.natlib.govt.nz/newspapers/EP19290115.2.105.7
Bibliographic details
Evening Post, Volume CVII, Issue 12, 15 January 1929, Page 12
Word Count
178REDUCING CAPITAL. Evening Post, Volume CVII, Issue 12, 15 January 1929, Page 12
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