Mr. Soyka:—I_ will make your understand in case you get some in-ment included the statement that other party were going to bus $30,000 worth ut the Langkat shares. They come to an agreement whereby they woul not sell these chairman replied that the: other parly were gi 7 money on equipment, Tangkat company could not attend to buy.
'Mr. A. ily sari he did not think they should accept a proposition this Kind. If the other party found that the' business was not gol satisfactorily, they would sell out, and Langkats woul! only have $10,- situated. thereon, generally on the terms of the Offer B explained to meeting."
"The resolution was proposed by Mr, W, R. MeBain, who presided at the meeting, and seconded by Mr. C.F. Shackleton.
"phe meeting followed a stormy meeting of shareholders the previous day when it was decided to adjourn for 24 hours in order to give shareholders an opportunity of examining the two offers for the property. The chairman again read out" the two offers, and the latler was se cepted by the meeting, In explaining the offers on Dee. 10, before the adjournment, the ehair= man, Mr, W, R. MeBain, said:—
'Owing to the confidential nature of these offers, it was not considered advisable to set out particulars of them in the notice convening the meeting, Offer A is for a free option until March 31, 1937, and an exten sion, if necessary, for' two months for which a payment of Pesos $,000 per month will be made by the prospec tive buyers. During this period their engineers will examine our properties, and, subject to a favourable re-pari, this party is prepared to make 8 cash payment of Pesos 600,000 plus 15 por cent, of the nett profits of the operating company registered in the Netherlands East Indies,
Text read from the printed page and cleaned; old type leaves the occasional error.