Suggestion Made to Permata Shareholders: Order in Council Awaited A suggestion by Mr. D. Raphel, 0 Jshareholder, that the shares of ihe' Permata Rubber Estate, Lie., should split into seven shares of $1 each was noted down for further. consideration at a special meeting of share holders to be called at a later date. fat the annual meeting of the shareholders held at the offices of Messrs Friday.
Beck and Swann, 17 The Rund,
Mr. Raphel sold that about o° year for two ago he was told that the management would consider favourably the question of splitting the shares, Splitting the shares would: have the effect of making them more marketable, and also of making easier for people to sell them. The shares were very hard {o sell at the present time, and his suggestion would make li easier to handle. them, Mr. L. E. Canning, Chairman, said that the directors had been expecting Order in Council to come out. with regard to this question, pertlularly in view of the latter phase of the financial situation since November last. The Board were not averse to splitting the shares. If they. changed the currency of the shares, however, they had to obtain the canciion of the British Supreme Court. If the change could be brought about without any charge to them they thought it better to wait for a short time. It was a [question of expediency.
Another shareholder expressed the view that it did not matter what the change cost so long as it was effected. A long time had elapsed since the Suggestion was first made that It would be advisable to carry out the change straight away. As the Order in Council "had not appeared, seemed that the change was some: thing that the majority of shareholders would like to have effected.
A shareholder said that the cther shareholders would approve of this! step being taken whatever the cost.
Text read from the printed page and cleaned; old type leaves the occasional error.