Page 8 Advertisements Column 1

New Zealand Herald, Volume LXXV, Issue 23097, 23 July 1938, Page 8

EXAMINATIONS INSTITUTE OF INCORPORATED SECRETARIES OF AUSTRALIA AND NEW ZEALAND. SEPTEMBER EXAMINATIONS. Candidates are reminded that application to sit for the September Examinations must be in the hands of the undersigned not later than Ausust 31. IH.'iS. Further particulars on application. VAL. KIRK. F. 1.1.5.. Registrar, New Zealand Division. Argus House. Hieh St.. Auckland. C.1., or P.O. Box 825. Auckland. C.l.

Who will administer Business I Aver/ real problem exists for property owners who are visiting overseas or are incapacitated by reasons of ill health in finding a suitable agent or attorney to manage their affairs. It is with a sense of real relief that many people turn to the Guardian Trust and avail themselves of the special facilities that the Guardian Trust can offer. "I am glad indeed that you have been able to effect sales at such favourable prices and have not depreciated the market. I would extend my congratulations upon this happy achievement and tender my sincere thanks for the protection of my Interests, which you are so expertly according." writes i client of the Guardian Trust whose extensive business connections demanded the most careful and expert attention In his absence. Foresight and imagination combined with a cautious policy llzoc oooimested o1 administration carried out on strictly business lines, Cefital£zoo,ooo invested it N.Z. Gen t. Securities. Additional liability of Shareholders £IOO,OOO. Assets under administration exceed £13,000,000. Over £ 1,000,000 new bvsiness last year. provide the beneficiaries with absolute protection and the highest possible return from the assets of the estate. A confidential interview with the Manager will reveal other important advantages and may be arranged without obligation. Ring for an appointment today. "♦GUARDIAN TRUST AND EXECUTORS COMPANY OF NEW ZEALAND LTD. (Incorporated by Special Act oj Parliament, 1883) Mr. S. Austin Ctrr, Mr V. J. Limer, Mr. K. B. Myers, Mr. E. R. N. Russell, Mr. P. H. Upton, Mr. W. R. WUson, Mr. R. N-K. Swinston. General Manager: Mr. R. F. Ward Head Office: South British Insurance Buildini, Shortland Street, Auckland. Branches and Agencies throughout the Dominion.

FOR PUBLIC INFORMATION ONLY: This advertisement is not to be regarded as an invitation to the public to subscribe for shares, the whole of the issue below mentioned having already heen subscribed. Imperial Chemical Industries 0F i Australia and New Zealand Limited (Incorporated under the Companies Act 1915 of the State of Victoria). ISSUE AT PAR of 1,000,000 5 Per Cent Cumulative Preference Shares of £1 each. PAYABLE: 5/- per »hare on application; 5/* per share on allotment; and the balance by instalment* of 5/- per share on 31st January, 1939; 5/- per share on 31st July, 1939. Provided that the applicant sh.H have the right to pay up shares in full on application or ° r . thereafter before 31st July, 1939, subject to adjustment of any accrued dividend so th.it share* so p 1 p equally in all respects with those issued as fully paid on allotment. January and 3 Ist The dividend on the 5 per cent Cumulative Preference Shares will bt payable half-> ejirly on J - July in each year. The first dividend will be payable on 3 Ist January. 1939. and will be calculated from the date of allotment be P playable free of exchange in Melbourne, Sydney, Brisbane, Adelaide. Perth, and I lobart. Authorised Capital £7,500,000 CAPITAL PREVIOUSLY ISSUED: 3,732,569 Ordinary Shares' of £1 each, fully paid ADDITIONAL CAPITAL NOW SUBSCRIBED: 1 000.000 5 per cent Cumulative Preference Shares of £1 each £l. HELD IN RESERVE: 2,767,431 Shares of £1 each •••• £2 ' 7,500.000 £7, £3,732.569 £1,000,000 £2,767.431 £7,500,000 ' ™F" WHOLE'OF Bt THE S ABOVE MVOF 5 PREFERENCE SHARES OF £1 EACH. WITH THE EXCJPTION OF 12 000 "HA£ESRESERVED FOR ALLOTMENT TO THE TRUSTEES OF THE STAFF PENSION FUND OF THE COMPANY WAS UNDERWRITTEN FIRM BY J. B. WERE AND SON; ACCORDINGLY NO SHARES WERE AVAILARI F FOH SUBSCRIPTION BY THE PUBLIC GENERALLY. , Underwriter, agreed to make available from their firm allotment up to 43.500 shares for subscription by and allotment to the employees of the Company and its subsidiaries. DIRECTORS: SIR HAROLD BEAUCHAMP. Kt., Wellington, New Zealand, Gentleman. MALCOLM McCAUL BRODIE, 111 William Street. Melbourne, C.I. Merchant. HAROLD GORDON DARLING. 44 King Street, Melbourne, C.I. Merchant. ctp r,FORCE ALFRED lULIUS. Kt., B.Sc., B.E.'. Castlereagh Street. Sydney. Engineer. . , _ , , THE RT. HON. LORD McCOWAN of ARD£ER, K.8.E., D.C.L.. LL..D.. Millbank, London. Chairman of Imperial Chemical IndusHAROLD JOHN^MITCHELL.! Millbank. London. President of Imperial Chemical Industries Limited (England). JOHN GIBB NICHOLSON. Millbank, London. Director of Imperial Chemical Industries Limited (England . SIR WILLIAM LENNON RAWS. Kt.. C.8.E., 380 Collins Street, Melbourne. C.l, Chairman and Managing Director. JOHI? ROGERS OB.e!. F.LC. Millbank. London. Director of Imperial Chemical Industries Limited (England). SIR ALEXANDER STEWART. Kt.. 360 Collins Street. Melbourne, C.l Engineer. BENjAMIi ED WAR TODHUNTER° o°B.E * TO BANK OF AUSTRALASIA. THE UNION BANK OF AUSTRALIA LIMITED. qoi TflTftßS- RI AKE AND RIGGALL. 120 William Street, Melbourne. C.l. CONSULTING SOLICITORS TO THE UNDERWRITERS: WHITING AND BYRNE. 101 William Street Melbourne ' C..I. AUDITOR: WILLIAM SHEARER PHILIP (of Flack and Flack), Chartered Accountant (Australia). 128 Uilliam Street, MelCERTI°FY n iNG C ACCOUNTANTS FOR THE ISSUE: FLACK AND FLACK. Chartered Accountants (Australia). 128 Williams SECRETARY^'ANd"'REGISTERED OFFICE: PERCY JOHNSON LEIGH. 380 Collins Street. Melbourne, C.l. UNDERWRITING^BROKERS: I B WERE AND SON, Capel Court 373 Collins Street. Melbourne, C.l. Sydney Office: 30 , L °" do " _ - , 117 Pitt Street (B. Grtnnan, Manager). 59 Lombard Street, E.C.3. OBJECTS OF THE ISSUE: ...prpiAi rHFMICAL INDUSTRIES OF AUSTRALIA AND NEW ZEALAND LIMITED, in which a controlling interest U held bv Imverf*] ChenUca 1 Industrie. Umited, of England, ha, ju.t mad. a public issue of 1.000.000 5 per.cent Cumulative Preference Share" of * I each to assist in financing the continuing growth of its business and the expansion of its manuf.c turing operationg in direct)y or through subsidiary companies, an extensive business in the manufacture of chemicals explosives, ammunition, leathercloth, and other products, and in the distribution of chemical products and <*ve-stuff« produced by its associates overseas. Through associated Australian companies it is also interested in the nonferr°£ Resent a attentit3nYs t 'be!ng de'vote^to'^he^stabUshmT^ 0 gh S^'"s S ubsidiary company . C.. Alkali (Australia) Pro- • . * „i thr alkali industry in South Australia. Imperial Chemical Industries of Australia and New Zealand LimUed will shortly rommence the erection of a plant for the production of synthetic ammonia and nitric acid at its works " D S: sHil'x i,'."=T gr&tfP&Sz u*. <*..»*■ asia) Pty. Ltd., Leathercloth Pty. Ltd., Industrial Chemicals Pty. Ltd.. 1.C.1. Alkali (Australia) Pty. Ltd., Zanic Pty. Ltd., and >™P eri ®' t^ h ?rjg C "' , . , _,i_i v u v Australian Glass Manufacturers Company Ltd.. The Broken Hill Pty. Co. Ltd.. Broken Hill South Ltd., Commonwealth' Fertiliser* and Chemicals Ltd.. Electrolytic Zinc Co. of Australasia Ltd., North Broken Hill Ltd., and The Zinc CorP°ratien Lt ASSO CIATION WITH IMPERIAL CHEMICAL INDUSTRIES LIMITED Under an agreement ' with Imperial Chemical Industries Limited, of England, the Company is entitled to full and free information with regard to. and the right to use in Australia and New Zealand, all present and future patent,, inventions information t manufacturing processes, technical and other information in connection with the manufacture and sale of wide rang- of products manufactured by the operating groups of Imperial Chemical Industries Limited. England. These Include the major manufactures of the explosives, metal, alkali, general chemical, fertiliser, and dye-stuff groups, but exclude the production of petrol by hydrogenation. < pr ACCOUNTANTS' CERTIFICATE: Messrs Flack and Flack, Chartered Accountants (Australia ). who conducted an investigation of the accounts of the Com pany and it. wholly owned subsidiaries for the purposes of this issue, presented the following certificate:— We have examined the Books and Accounts of your Company and its wholly owned Subsidiaries for the five years ••nded 30th September, 193 7, and certifv that the combined nett profits, after eliminating inter company dividends and charging all working and general expenses, providing for depreciation and income taxes payable, and making such adjustment, as ars in our opinion appropriate, were as follows: Year ended 30th September, 193? .... .... .... •••• i? Year ended 30th September. 1034 Ye.ir ended 30th September, I'm 111 l 111 i" • Year ended 30th September, 10)6 .... .... .... .... •••• •••♦ A-nfMfl:) . - Year ended 30th September. 1037 .... .... .... .... A' 328,4 36 128 William Street. Melbourne, C.l. Yours faithfully. (Signed) FLACK AND FLACK 15th lune 1938 Chartered Accountant* (Australia). NETT PROFIT The Certificate of Messrs. Flack and Flack, Chartered Accountants (Australia), shows (hat the adjusted nett profit o! Impejial Chemical Industries of Australia and New Zealand Limited and its wholly owned subsidiaries, after making full provision for depreciation, taxation, and all other charges, rose from i' 260.485 for the year ended 30th September, 1936, to £328 436 for the year ended 30th September. 193 7. An expenditure of about £700.000 has already been incurred on the alkali works at Port Adelaide, and this expenditure is at present unproductive. The alkali plant is expected to commence operations in 1939. The installation of the ammonia synthesis plant at Deer Park will be. commenced at an early date, but the work will proba.bly not he complete until some time in 1940. Both plants, when in operation, should increase the earnings of the Company. COVER FOR PREFERENCE DIVIDEND ' On the basis of the nett profit ol £328.436 of the Company and its wholly owned subsidiaries for the year ended 30th September. 193 7. the annual requirement of £60,000 for the 5 per cent dividend on the £1,000,000 of new Preference Capital would be covered 6.57 times, without allowing for the earning capacity of thr new capital. ASSETS BACKING FOR PREFERENCE SHARES The Nett Tangible Assets of the Company and its wholly owned subsidiaries as at 30th September. 193 7, together with the proceeds of the Preference issue of £1.000,000, less tho estimated costs of the issue, would provide a nett tangible assets backing of approximately £4/6/3 for each £1 of Preference Capital. In the above figure of £4/6/3 no value has been included for goodwill, patents, procesres, trade marks, etc., which are of very real value to the Company. RIGHTS OF PREFERENCE SHAREHOLDERS ' The Articles of Association of Imperial Chemical Industries of Australia and New Zealand Limited are being altered to provide that the holders of the Preference Shares shall be entitled in priority to the holders of all other classes of shares in the capital of the Company, whether present or future:—(a) To be paid out of the profits of the Company from time to time made available f->r distribution by way of dividend a fixed cumulative preferential dividend at the rate of Five per centum per annum on the capital from time to time paid up on the Preference Shares held by them respectively, such dividend to be calculated from the date of allotment and to be payable half yearly on the 3 Ist day of January and the 3 Ist day of July in each year, free of exchange in the capital city of any State of the Commonwealth of Australia; (b) To repayment on a winding up of the capital paid up on the Preference Shares held by them respectively, together with all arrears of dividend. whether earned or declared or not, down to the date of such repayment, but shall not be entitled to any further participation in the profits or assets of the Company. VOTING RIGHTS: The holders of Preference Shares will have the same rights as the holders of Ordinary Shares to receive all notices, accounts, balance-sheets, and reports issued by the Company, and to attend at any General Meeting of the Company, but they will not be entitled to vote at any sinh General Meeting in respect of their Preference Shares unless the dividend thereon is in arrears for more than three months, or unless a Resolution is proposed for reducing the capital of the Company or winding up or sanctioning the sale of the undertaking of the Company, or a proposition is submitted to the meeting which directly affects their rights and privileges. RESTRICTION ON FURTHER SHARE ISSUES: No further shares ranking pari passu with, or in priority to, the present issue of Preference Shares will be issued except with the sanction of the holders of at least three-fourths of such shares for the time, being issued. MODIFICATION OF RIGHTS: The rights and privileges attached to Preference Shares will not be subject to modification. abrogation, or alteration, except with the sanction of the holders of at least three - fourths of the Preference Shares for the time being issued: nor will any repayment of Preference Capital be made otherwise than on a liquidation without a like sanction. _