WAIHI-PAEROA COMPANY.

New Zealand Herald, Volume LV, Issue 16943, 31 August 1918, Page 6

WAIHI-PAEROA COMPANY.

PROCEEDINGS INFORMAL. ANOTHER MEETING NECESSARY. An informality has been discovered in the proceedings in connection with the voluntary liquidation of the Waihi-Paeroa Gold Extraction Company, and a further meeting of shareholders will be convened to confirm the previous resolution authorising the winding-up of the company. An explanation of the matter was given last evening by Mr. P. N. Kingswell, managing director of the company. He stated that the Companies Act provides that a company may be wound-up voluntarily by "special resolution," and requires that a "special resolution" shall be confirmed at a general meeting " held at an interval of not less than fourteen days nor more than one month from the date of the meeting at which such resolution was first passed." The resolution was passed at a meeting held on August 15, and the confirmatory meeting was held last Thursday. Mr. Kingswell said the company was advised that the proceedings at '-he first meeting were completely in accordance with the Companies Act, but the interval between August 15 and 29 was not legally " fourteen days." The proceedings at last Thursday's meeting were, therefore, informal, and it would be necessary to convene another ireneral meeting of shareholders to confirm the resolution of August 15.