(oder e mee schappH, N.v. ernment 3% per cent. Stock 1940, which is due to be repaid on January 1, 1940, may surrender their holdings in sums of £100, and receive, in exchange for each £100 stock surrendered, £100 New Zealand Government 3% per cent. Convercion Stock 1939 to 1945, together with a cash payment at the rate of £1 per cent.
Cash applications will be accepted to the amount sufficient to make up with the stock issued in the conversion above a total of £16,000,000 New Zealand Government 3% per cent Conversion Stock 1939 to 1945.
The proceeds of cash applications will be applied towards redemption at par on January 1, 1940 of the New Zealand Government 3% per cent, Stock 1940, which has not been converted.
During the periods from June 5 to 20 ahd from December 5 to 20 in each year, commencing in 1940, holders of Stock, including holders of stock drawn, will have the option of converting such stock into sume of £100, as to one half into New Zealand Government 3% per cent. Stock 1949 to 1954, and as to one half into New Zealand Government 3% per cent. Stock 1955 to 1960, at rates to be published from time to time.
The price of issue is £99 per cent. payable as follows:
Text read from the printed page and cleaned; old type leaves the occasional error.