The extraordinary resolutions am about to propose are three in number. Provided they are passed by the requisite majority, resolutions Nos, 2 and 3 will be submitted for confirmation as special resolutions at a further extraordinary. general meeting to be held on the Yith instant. "Resolution No, 1 deals with the issue of bonus shares the proportion of one bonus share' of £20 to five existing shares. If this extraordinary resolution passed by the requisite majority, these bonus hares will be allotted {to shareholders. on the register today and to holders of share warrants to bearer in exchange for coupon No. 24; they and the existing shares will henceforth be known as "A" shares, in order to distinguish them from future share isrucs. Resolution No, 2 provides for the splitting up of the unissued] shares in the capital of the com-[pany into shares of £1 each, It is felt that shares of a nominal value! of £1 each will be found to be more readily dealt in than shares of £20] each.
The third resolution deals with the substitution of new articles of association for the existing ones, which were adopted in 1887, on the transfer of the head office from London to Shanghai. It was found that considerable alterations to the Articles of Association would be required in order to carry out the provisions of the preliminary agree ment and it is therefore considered that the most desirable course to pursue is to adopt a complete and tore up to date set of new Articles of Association. These new Articles of Association, a copy of which is jon the table, provide inter alia that they shall' be subject to the preliminary agreement between the [Council and the company dated September 28, 1926, and to the new! agreement referred to therein, oF {to any alteration or niodification of such agreements.
the Extraordinary General Meeting to be held on the 17th} intent, further resolutions will be [proposed, one authorizing the offer of "B" shares to existing shareholders, of which particulars have already been sent to you, and in which I hope you will find attractive investment, and another setting fre> for distribution as an accretion of capital 201,180 shares} of Tls. 1 each of the. Shanghai Waterworks Fittings Ca, Ld. 1 trust that these resolutions and the extraordinary resolutions I am about to propose will receive your sup-pot. I shall be pleased to answer} Jany questions you may wish tol No questions were asked and the following resolutions were adopted
Text read from the printed page and cleaned; old type leaves the occasional error.