N.Z. LOAN & MERCANTILE CO.
COMPANY RECONSTRUCTION. By Telegraph—Prcffl Association—Copyright (Itee. March 29, 0.35 a.m.) London, March 28. The New Zealand loan and Mercantile Agency Company, Ltd., proposes relieving its shareholders of liability amounting to X 1,775,000. A complete reconstruction is proposed, and a call of ,£'s a share will he made, the proceeds to go towards tho redemption of a prior Men oil the stock. The remaining liability of ,£3 10s. per share will be cancelled. Shareholders unablo to pay ths call will receive fully-paid-up ten shilling shares for cach existing share. The new debenture and share capital will be divided into four per cent, first mortgage debentures, five per cent, preference slock, and ordinary stock, each amounting to £1,000,000. Tho first mortgage debentures will replace tho remainder of ths prior lien stock. Tho 'Tlnancial Times" cordially approves the scheme. Further details of the scheme will bo found in our commercial columns on page 8.
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https://paperspast.natlib.govt.nz/newspapers/DOM19120329.2.38
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Dominion, Volume 5, Issue 1401, 29 March 1912, Page 5
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155N.Z. LOAN & MERCANTILE CO. Dominion, Volume 5, Issue 1401, 29 March 1912, Page 5
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