The chairman said that he had {taken up the question of the option period with Party B, which in turn Pointed out that it was putting a lot! fof money into the concern, was send= Ing engineers {0 look over the property, with a possible prospect of los-Ing a lot of money if the last month $0 proved rainy. Furthermore, the directors had very good reasons to recommend Party B, as they were tunable to yet a bank guarantee for Party A.
Mr. Horace Kadoorie:—This is a 000, remaining from the proposition The chairman said that, in spite of negotiations aver a lengthy period. this was the first concrete offer they had had, "A shareholder said he would like to support. the decision 10. secept scheme "B," and to thank the chair man' personally. for his efforts on their behalf, He would suggest to the board that they should alter. the Acheme whereby they were tied holding the shares for one year.
The chairman replied that he had telegraphed to the other party, both the previous day and that day, asking. IE the number of shares they would be bound to retain for one year should be reduced, but they "had replied that they evuld not further alter the agreement.
The resolution was then passed uns animously.
Text read from the printed page and cleaned; old type leaves the occasional error.