Page 3 Advertisements Column 2

Greymouth Evening Star, 3 August 1929, Page 3

New Zealand Breweries Limited Notice to Holders of Debenture Stock Issued by the Company Payable to Bearer The Directors of the Company, after mature consideration as to fractional share shall be dealt with’ by the Directors of the the best method of re-arranging the capitalisation of the Company Company for the benefit of such Debenture Stock holder in on fair and equitable lines between its Shareholders and Debenture such manner as they may determine. Stock holders, in view of the success which has attended the Com- ‘ pany’s operations, recommended to the shareholders a scheme under (c) That for the purpose of the filing by the Company of a conwhich (1) the capital of the Company was to be increased! to tract in terms of Section 97 of The Companies Act 1908, £2 000 000 by the creation of 1,500,000 new shares of £1 each in order to evidence the title of the several Debenture Stock (?) 250 000 of these new shares were to be allotted as fully paid holders to the fully paid up Shares to be issued to them up to the present shareholders by way of bonus distributed out of respectively in exchange, for their respective Debenture Stock Reserve Profits, and (3) Debenture Stock holders were to be granted the Directors of the Company may appoint any person to the option until the 10th day of January 1930 of exchanging their such contract on behalf of the several Debenture Stock Debenture Stock as from the Ist day of April 1930 for fully paid' up holders entitled to such Shares as aforesaid. £1 shares in the proportion of Two pounds of Debenture Stock fqr The R earer Debenture Stock which you hold forms a porone fully paid up share. This scheme was considered by the share- of of £lOOO 00() Debenture Stock made by P the I ?°’ d o erS a l tEe £ 77 n ? eetl p S °*7 on ’ 7th Ju y Company about 6 years ago. This Debenture Stock bears interest 1929, when the following Resolutions (inter aha), necessary to at th P of 1.0 % per annum, and the Company is entitled to bring the same into e ec , were u y passe . ‘ redeem the same on the First day of July 1933. When this date (a) That the holders of the Debenture Stock issued by the Com- arrives, the investment at the rate of 10% per annum (free of tax) pany now current be granted the option of exchanging as will have been current for a period of ten yeafs and will have proved from the Ist day of April 1930 the Debenture Stock held a very lucrative investment to the original investor who took up the by them respectively for fully paid up shares of £ 1 each stock at par. The investment has proved such an attractive one in the Company in the proportion of Two pounds of such that the stock has appreciated considerably in value on the market; Debenture Stock for one of such fully paid up Shares, such but present values are not likely to be maintained when it is realised option to be exercised by the respective Debenture Stock that redemption may take place at par on the date above mentioned, holders in writing addressed to the Directors of the Com- The strong financial position of the Company does not warrant the pany in Wellington on or before the Tenth day of January existence or continuance of a charge on the assets of the Company 1930. • (yielding 10% per annum) beyond the date when the Company is first entitled to redeem, and the Directors contemplate the redemp(b) That one fully paid up Share of £ 1 in the Company be tion of the issue in July 1933, and expect that such redemption will allotted on the First day of April 1930 to each Debenture then be effected. Such being the case, the Directors deemed it Stock holder, who shall on or before the Tenth day of advisable to find some method of giving to- ,the Debenture Stock January 1930 exercise the option for conversion granted to holders the option of changing their investment to that of a share him or her by the Company in satisfaction and discharge of investment presenting attractive earning power and possibilities, every £2 of Debenture Stock surrendered by him or her to They considered that it would be unfair to the Debenture Stock the Company on the First day of April 1930 for cancellation holders to withhold from them the information regarding their policy and in exchange for such shares in terms of such option, respecting the redemption of the Debenture Stock hence their and in the event of any such Debenture Stock holder being recommendation of the above scheme and this present notification of entitled upon such exchange to a fractional share, then such its adoption' by the shareholders. NOTICE, THEREFORE, IS HEREBY GIVEN that all holders of Debenture Stock are granted (in terms of the Resolutions set out above) the option until the 10th day of January 1930 of exchanging their Debenture Stock as from the First day of April 1930 for fully paid up Shares in in the proportion of Two pounds of Debenture Stock for one fully paid up Share. All holders of Debenture Stock who desire to exer- Forms of request are obtainable from the Secretary ' cise this option must sign a request in the form prescribed of the Company, P.O. Box 211, Wellington, and at the by the Company and return same to the Secretary of branch offices of the Company at Auckland, Gisborne, the Company at Wellington on or before the 10th day of Wellington, Christchurch and Dunedin, and at every January, 1930. branch of all Banks operating throughout New Zealand. Any Debenture Stock holder who exercises this option must comply with the conditions imposed by Resolution (b) set out above, namely:—He must on or before the First day of April 1930 forward or hand to the Secretary of the Company at Wellington his Debenture Stock Certificate or Certificates, having attached thereto all Interest coupons payable on and after the Ist day of July 1930. Coupons payable on, and prior to, the Ist day of April 1930 will be retained by him and presented for payment on due dates. And subject to such compliance he will be allotted on or about the Ist day of April 1930 the number of fully paid up shares to which he will be entitled. ■•■■■ ’ .v. ■■ / Holders of an odd amount of Debenture Stock will Since all Debenture Stock holders who exercise the not be able to exchange the odd pound of Debenture option ' to exchange will receive interest up to the 31st Stock for Shares, and consequently the Directors have day of March 1930, it is not intended that the Shares decided to redeem such odd amounts in cash at the rate j ssuad . ‘ n exchange for Debenture Stock shall participate of £l/7/6 for £1 of Debenture Stock. in **“><’”<’* J*"* d ? c a J® d ™ respect of a penod prior to the Ist day of April 1930. The first dividend), therefore, which will accrue on any shares issued in By way of example, the holder of £75 of Debenture exchange for Debenture Stock will be the first interim Stock, who exercises the option to exchange, will dividend declared in respect of the financial year comreceive a Certificate for 37 Shares and the sum of mencing on the Ist day of April 1930 and ending on £l/7/6 in cash. the 31st day of March 1931. By Order of the Board, ALFRED S. BANKART Chairman of Directors. DATED at Wellington the 25th day of July, 1929.

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DO YOU CARRY CIGARETTES?!' As important as having a smoke in one pocket is having Pulmonas in another. If you leave home without smokes, you soon buy’ (some. Give similar consideration, they are worth it. Pulmonas, for coughs, colds, asthma, broitehitis and. lung troubles, as a remedy and- preventive. 1/6 and 2/6 per tin. —(Ad.)