An extraordinary general meeting of shareholders in the Bukit Toh Along Rubber Estates, Ld., was held om Monday at the office of the secretaries, Messrs. J. A. Wattie Ca., Ld. Mr. N. G. Maitland presided, supported by Messrs. Hugo Reiss, A. J. Welch (directors) and C. J. L. Stewart (representing the seergtaries). There were 20,225 shares represented.
The chairman said:—
At the extraordinary general meeting of shareholders held on. February 13 this year, a reduction of the company's issued.capital was approved unanimously and the special resolution then passed was duly confirmed at an extraordinary general meeting held on March 1 his reduction of capital involves also a scheme of arrangement between the company and the shareholders, under which certain shares are to be surrendered for re-issue and to such scheme the sanction of His Britannic Majesty's Supreme Court! for China at Shanghai, under Section 121 of the Companies Ordinances (Hongkong), 1911, has to be obtained. Under the instructions of the Court, this extraordinary meeting has been called to consider and, if thought fit, to approve, with or without modification, the scheme of arrangement referred to.
The scheme was fully explained in a circular dated February 1, addressed to all members of the company and further details and explanations were given at the extraordinary general meeting held on February 13. A report of this meeting was duly posted to all shareholders appearing on the register. I do not think it is necessary for me to make any further comments on this scheme, which has been before you for consideration since the beginning of February. The scheme of arrangement to be presented to the Court for its sanction reads as follows "1.—The special resolution passed and confirmed on February 13, 1923, and March 1, 1923, respectively, for the reduction of the issued capital of the company and for the sub-division of its shares and for the surrender of certain vf the shares resulting from such sub. division, and for other matters, shall be binding on the company and its members and shall be carried into effect accordingly.
"2'The members shall accept the provisions made by the said special resolution in satisfaction of their existing rights.
§3.—Unless the said special resolution is confirmed by the Court on or before July 31, 1923. this scheme shall on that day become void,"
The resolution which I have to ask you to pass is proposed by myself and seconded by Mr. G. Grayrigge and is as follows "That the scheme of arrangement, submitted to this meeting be and the same is hereby approved and agreed to."
The resolution was carried un animously.
Text read from the printed page and cleaned; old type leaves the occasional error.