New Zealand Ca tar Syndicate.

Southland Times, Issue 15058, 30 September 1901, Page 2

New Zealand Ca tar Syndicate.

♦— - - ! Mr -T. Hensd.y secretary nml treasurer, reports that a general meeting ut shareholders was held on 19th inst, to consider the question of floating the syndicate into a limited liability company, which was agreed to ; and a committee appointed to draw up a prospectus. The committee had their final meeting on Friday evening, when the prospectus was passed for printing, and will be placed before the public in the course of a few days. The nominal capital ) 9 £20,000, divided into 80,000 shares of os each ; 00.000 shares are fully paid un, of which 6000 are to be allotted to the subscribing shareholders in the ratio of 2 paid up shares for every 10 shares subscribed for. Besides the paid up shares the vendors are to receive. £1000 in cash. Applications have been received for 2000 shares which, considering the small number of syndicate members at the meetings, expresses the confidence entertained oy the vendors. Terms of subscription are 6d per share on application, 6d on allotment, further calls of 3d por share at intervals of not less than one month. The company is being formed to acquire the pa*.ent rights from the syndicate. Full patent* have been granted by the following countries :— Victoria, New South Wales, New Zealand, the United Kingdom, France, Belgium, and Canada. The"* money subscribed will be devoted to exploiting the invention, and it is not anticipated that more than 23 Od per share will be called up. The vendors have agreed not to part with any share or interest untilthe company is floated, registered, and the scrip issued.