MINING NEWS.
MOANATAIARI- COMPANY. NEW ISSUE OF SHARES. A large number of shareholders of the Caledonia, Kuranui and Moanataiari Consolidated Gold Mining Company, Limited, met yesterday to discuss a proposal to increase the capital of the company to £37,500 by the creation of 50,C00 additional ordinary shares of 5s each. Mr. P. Watson presided. It was explained that the new capital was required to prosecute thedevelopment of a new reef lying to the seaward of the present workings. Numerous questions were answered by Mr. Adama, who said he felt certain there were great possibilities in the new find. The proposal to increase the capital was carried, as also was an additional motion that the new shares should be issued to present holders in the ratio of one to each two shares held, on the payment of 6d on application and 6d on allotment. Shareholders are also to have the right to apply for shares above their portion, these to be issued from surplus shares pro rata.
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Bibliographic details
New Zealand Herald, Volume LXIV, Issue 19607, 8 April 1927, Page 9
Word Count
166MINING NEWS. New Zealand Herald, Volume LXIV, Issue 19607, 8 April 1927, Page 9
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