That a donation to patriotic and charitable funds of Shanghai Tls. 20,000.00 be appropriated out of the profits of the company for distribution as the directors see fit. Proposed by Mr. H. M. Tibbey, seconded by Mr. E. 0. Cumming.
Proposed by the Chairman, seconded by Mr. A. W. Burkil (a) That the paid up share capital of the company increased from Sh, Tls. 616,675.00 to Sh. Tis 750,000.00 by the issue of the 20,685 shares being the balance of the unissued shares. of the company, ranking for dividend and in all other respects pari passen with the existing shares of the Company.
(b) That the said 20.665 shares be offered in the firs instance at a premium of Tls. 15 per share to the members of the company in proportion as nearly as may be to the number of shares held by them respectively on the 13th day of March, 1920, but so that no fractional part of a share shall be issued, and upon the footing that the full amount of each share taken up plus the premium (making together Tls. 20 per share) shall be paid to the Company upon acceptance of the offer, and that such offer be made by notice.
fying the number of shares to ich the member is entitled. and limiting a time within stich the offer, if not accepted by payment. will be deemed to be declined, and that the directors be empowered to dispose of the shares not taken in response to such offer.- as also any surplus shares. in such manner as they think most beneficial to the company.
A vote of thanks, proposed by Mr. Tibbey, was cordially given. to the Chairman, Directors and Staff, for their excellent work during the year.
The meeting then terminated.
Text read from the printed page and cleaned; old type leaves the occasional error.