M.K. MILLINERY
THE SHARE SUBDIVISION
Shareholders of the M.K. Millinery, Ltd., Auckland, not only amended the articles of association to conform with Stock Exchange requirements, but also resolved that the directors may, with the sanction of the company in general meeting, capitalise undivided profits and distribute the same as capital amongst the members of the company and may also pay out of, or apply, the reserve fund of the company or any part of such reserve fund in payment or satisfaction of a bonus or dividend by a distribution of shares in the company either fully or partly paid up, or apply or use any bonus or dividend In paying up either fully or partially any shares of the company then unissued or only partially paid up. Amongst other advantages tfiat the subdivided shares will allow, is that many of the company's staff who are desirous of purchasing its shares and cannot do so on the £1 basis, will now be able to purchase these shares.
Reference was made in • these columns yesterday to the unanimous approval of the meeting of the subdivision of the 50,000 shares of £1 each into 200,000 shares of 5s each.
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https://paperspast.natlib.govt.nz/newspapers/EP19370911.2.16
Bibliographic details
Evening Post, Volume CXXIV, Issue 63, 11 September 1937, Page 6
Word Count
196M.K. MILLINERY Evening Post, Volume CXXIV, Issue 63, 11 September 1937, Page 6
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