N.Z. TITANIC STEEL AND IRON COMPANY.
Wellington, January 20th. Ah extraordinary general meeting of tbe New Titanic Steel and Iron Company wa» held tonigbt;about2oahareholders were present. Tuereporters were requested to withdraw, and afterwards were informed that the following Rpecirtl resolutions had been passed :— L That th« following clause be added to the regulation *>f the Company under heading "shares" and numbered " 1a" : "There shall be two clashes ' of simreu, called special shares Mid ordinary shares. The special shares shall be paid up in i full on application, and the ordinary shares 1 shall be paid up by calls from time to time aa
provided by regulations." No. 2. "The directors shall have power from time to time to is* suo either of these clashes of shares to the public,, and the nominal capital of the Company (L 50.000) shall for purposes of this regulation be deemed to consist of 2000 special shares ani 2000 ordinary shares." 2. " That clauses Noa. 23 and 24 of the regulations of the Company, under the heading " Disposal of surplus, shares," be struck out, and the following clauses, as numbered, be added to the regulations of the Company in lieu thereof : — " Special shares. — 23. All special shares shall be- entitled, under the declaration of a dividend by the Company, to interest, upon the amount paid into the Company upon them from the date of such payment, at the rate of nine pounds per cent; per annum. 24. The directors shall have power at any time to cancel the whole or any portion. of said special shares, by paying the holder theieof the amount paid by him to the Company, together with intereat thereon, as provided by regulation No. 23.''
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https://paperspast.natlib.govt.nz/newspapers/OW18790125.2.52
Bibliographic details
Otago Witness, Issue 1418, 25 January 1879, Page 10
Word Count
284N.Z. TITANIC STEEL AND IRON COMPANY. Otago Witness, Issue 1418, 25 January 1879, Page 10
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