■VTOTICE IS HEREBY GIVEN that a MEETING of the TEVIOT ELECTRIC POWER BOARD will be held in the Board Room at Roxburgh on the nineteenth day of SEPTEMBER 1934 at 8 p.m. for the purpose of CONFIRMING THE RESOLUTION passed at a Special Meeting of the Board on the fifth day of September 1934. The purpose of such resolution being that under the provisions of “The Local Authorities Interest Reduction and Loans Conversion Act, 1932-33,” the Board shall issue new securities in conversion of the existing securities of the following loans: — Rate of Interest. Orlgl- Exist- Date Name. Amount, nal. lug. of Map.c. • 4 4-5 turlty. Nov. 1, 1942. 4 4-5 Nov. 1, 1942. 4 4-5 Nov. 1. 1912. 4 2-5 Nov. 1, 1942. 4 3-5 Nov. 1. 1942. a , Nov. i, 1942, Total .. £53,900 Such new securities to be issued in accordance with the - provisions of “The Teviot Electric Power Board Loans Conversion Order, 1934.” Tlie resolution mentioned above provides ns follows: — 1. The conversion shall fake effect as from NOVEMBER 1, 1934. 2. That holders desiring to convert shall apply in writing to the Board and forward the .securities held by them. 3. That dissent from conversion can be signified in writing delivered to the^ Secretary on or before the* 14th NOVEMBER,' 1934. 4. That if no intimation is received from holders it will be taken that assent is given, and the securities will be converted. 5. That the rate of interest which rill be payable on debentures in respect of which dissent is signified will be twothirds of the original rate specified in the securities. 0. The conversion proposals provide for redemption by periodical redemptions over a period of 20 years in accordance with the provisions of “The Teviot Electric Power Board Loans Conversion Order, 1934.” 7. Premiums on conversion will be allowed in order to compensate the holders for the difference between the rate of interest in the new securities and the rate which is at present payable, J. K. GILMOUR, Chairman,
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Otago Daily Times, Issue 22366, 13 September 1934, Page 14
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336Page 14 Advertisements Column 3 Otago Daily Times, Issue 22366, 13 September 1934, Page 14
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