THE BIG SHIPPING DEAL

Dominion, Volume 9, Issue 2816, 6 July 1916, Page 6

THE BIG SHIPPING DEAL

I>. AND ,0. AND N.Z. SHIPPING COMPANIES. By Telegraph—Press Asiocianon. Christchurch, July 5. In the courso of a circular dated London, June 30, issued by the New Zealand Shipping Company to all its shareholders in connection with tho proposed deal with the P. and 0. Company, the following occurs:—"Tho P. and 0. stock to be given to you in exchange for vour shares is to rank for dividend with the existing P. and 0. deferred stock for tho final dividend to be declared by tho I', and 0. Company early in December, 191G (but not thejiiterim dividend already paid). This offer is conditional upon the P. and 0. Company con/irmin" in general meeting the agreement, and to the consent of H..\f. Treasury beinj obtained to the issue of the said P. and 0. deferred stock, and also upon the holders of not less than T6 apr cent, of the issued ordinary shares of the New Zealand Company or such less amount as the board of "tho P. and 0. shall determine, effectively accepting tho presont offer Oil or before July 17 next, or such extended time as the board of 'the P. and 0. may determine, and your acceptance will be subject to the same conditions. On these conditions being fulfilled this oiler and your acceptance will become absolute." !lr. A. W. liennott. general manager of. the New Zealand Shipping Co., told a reporter to-dav that he considered there would be very little difficulty in securiug the approval of tho shareholders of both companies or of tho Treasury.