BLACK'S GOLD MINING COMPANY

Evening Star, Issue 20029, 21 November 1928, Page 9

BLACK'S GOLD MINING COMPANY

LIQUIDATOR'S REPORT Mr R. Finch, liquidator of the Blacks Gold Mining Company, Ltd., has issued tho following report to members of the company, now in liquidation:—Under the articles of association of the company the surplus, after paying all creditors, is to be distributed to members in proportion to the amount paid up on their shares. The dividend payable by the company in accordance with these articles works out at 4d in the £ of paid-up capital, viz;—l4,ooo--shares issued as fully paid, £14.000: 20,000 shares (contributing) paid up to 4s. £4,000; with a paid-up capital of £IB,OOO The amount available for dividend is £3OO, which is £IB,OOO at 4d in the £. Fully-paid shareholders will then receive 4d per share and contributing shareholders will receive 4-5 d per share. Two of the promoters of the company Messrs Bvron-Moore and Ireland, has handed their dividends on 6,500 and 3,250 fully-paid shares respectivcly, to the liquidator to be distributed among shareholders in proportion of their holdings of contributing shares. This will give a further dividend of 1 19-20 d per share to the contributing shareholders, in addition to the 4-5 d month ned above, or a total dividend ol 2|d per share on such shares. After paying the dividend there will be a small balance in the hands of the liquidator to meet expenses in connection with the final distribution, printing, filing final reports, and various other disbursements which cannot at present bo accurately estimated. The final balance available will certainly amount to less than id per share, and as this would be too small to distribute among the individual' shareholders, the liquidator would like instructions from the shareholders’ meeting called for December 10/ 1928, i? to its disposal when tho amount has been definitely ascertained. The action of Messrs ByronMobre and Ireland in voluntarily waving their, claims for dividend on their fully-paid-up shares and causing such to be distributed among holders of contributing shares is one that should not be allowed to pass without an expression of appreciation from the shareholders, and an opportunity nf pae-imr such a resolution will be "!>■■■ ■ general meeting.