'A. proposal to increase the capital Jot the Shanghai Pahang Rubber Estate, Lid. by the creation of 100,006 additional shares, of Tls. 1 each, was passed unanimously at a meeting of shareholders held on Tuesday (May 22) in the head office of the company, No. 20 Canton Road.
The chairman, Mr. C. R. Burkill, was supported ' by Messrs. A. Welch and W. Mellor, directors, and shares present totalled $2,500.
Before submitting the.resolution, the chairman sai 'The purpose for which this meet ing was called was explained in our circular letter to shareholders dated May 11, As it informed you, the company owes against loans' and interest, unpaid directors _and secretarial fees approximately $37,000, and. the directors are of opinion that the time is opportune to obtain fresh capital. This they propose to offering lo existing shareholders at par—Tis. I=say $1.40 jeach—one new share for every five Jold shares held. As, however, the Jauthorized capital of the Company is fully issued, a resolution to increase the capital of the Company must frst be passed by shareholders. When forms of ap: plication for new shares. wi issued to registered shareholders at dote. new shares from shareholders living abroad. Shares not applied for will be disposed of by the Directors in the best interest of the Company.
There were no questions and the {ollowing Resolution was put to the [meeting and carried unanimausly:—
Proposed by: Mr. C. R. Burkill, and seconded by! Me. A. J. Welch, That the capital of the company be. increased to Three. hundred thousand Taels (Tls. 300,000.00) by the creation One. hundred thousand (100,000) [Additional shares of One Tact (Tls. 1), teach ranking for dividend and tu all other "respects part pass "with Ube existing shares fu the' company.
Text read from the printed page and cleaned; old type leaves the occasional error.