As a corollary to the resolution that you have just passed, this meeting has been called to sanction, subject to the prior approval of His Britannic Majesty's Supreme Court for China to the reduction of capital having been obtained, the in-Jcrease of the authorised capital of the company by Tls. 56, }560,000 shares of 10 to existing shareholders in the rate of 7 new shares for each five shares Jat present held.
Any shares rot applied for shareholders will be disposed of by the directors "on such terms and conditions as they may think fit.
T do not think that it is necessary for me to say anything more on ithe subject since the proposed jerease in the capital of the company forms part and parcel of the Teconstruetion scheme and, if you do not pass these resolutions, the whole proposition will fall to, the ground and the company will have to. go into liquidation.
I will, therefore, read the Resolutions to you and' then ask you to vote thereon.
Both resolutions were put to the ering and carried unanimously, as That as soon as may be after Majesty's Supreme for China the, confirmation by, His Britannic of the reduction of the, company's of candareens each the capital of the company be increased to Tls. 96,000 by the creation of 560,000 additional ordinary shares of 10 candareens leach.
That the said 560,000 additional shares be offered in the first, instance to the members of the Company in the proportion of 7 addi-{tional shares Zor every five ordinary shares held by them respectively Jand upon the footing that the full amount of each share taken up shall be paid to the company on acceptance of the offer by notice specifying the number of shares to which the member is entitled and limiting the time in which the offer if not accepted will be deemed to Ibe declined and the directors be and they are hereby empowered to dispose of the shares not taken up in
Text read from the printed page and cleaned; old type leaves the occasional error.