CAPITAL INCREASE
SOUTHLAND MEAT CO.
DIRECTORS' PROPOSAL
(Special to the "Evening Post.") DUNEDIN, This Day. An increase in the nominal capital of the Southland Frozen Meat Co. to £450,000 by^ creation- of -..300,000 ordinary shares of £1 each to be distributed among shareholders is recommended by the . directors of that company. • ; •: The directors state that they are of the opinion that the company is undercapitalised, and they recommend that the distribution be made on the basis of two shares for each £1 of paid-up capital. The distribution will be made as follows:—Holders of fullypaid preference and ordinary shares receiving two fully-paid shares for each share held, while holders of contributing shares (10s paid) will haye these shares fully paid to £1, and in addition.will receive one fully-paid £1 share for every two of such contributing shares held. Thus the proposed distribution will place all shareholders on an equality.
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Bibliographic details
Evening Post, Volume CXXIV, Issue 61, 9 September 1937, Page 12
Word Count
148CAPITAL INCREASE Evening Post, Volume CXXIV, Issue 61, 9 September 1937, Page 12
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