BROKEN HILL COMPANY TO INCREASE CAPITAL

Dominion, Volume 11, Issue 214, 29 May 1918, Page 8

BROKEN HILL COMPANY TO INCREASE CAPITAL

TO TURKU MILLIONS. By Telegraph-Press Associa Uon-CoDyright Sydney, May 28. Subject to the approval oi a nuct.ng of sharenolders on Juno 10, the Uroken Hut I'ropnetary Company has dccided to increase its authorised capital of ±600,000 in onu and a liali niillion original shares of Bs. each, to £3,01)0,000, liy tlio creation of one and a half million additional shares of 12s. each and one and a half million additional £1 shares.

Briefly, the proposal is that 518,994 shares not' now issued shall be ollered, to the present shareholders at 40s. per share pro rata upon their existing holdings, and when thatjsauo is completed £900,000 will bo taken from the reserve funds and distributed in tlio form of a bonus of 12s. per share upon Ihe original one and a half million shares of Ba. each, which will then consist of one and a half million £1 shares. Then a further £600,000 will be taken from the reserve fnndSNand distributed among the sharoholdors in tho form of a share bonus of 20s. for every two and a. half shares ot the one and a half million, making the paid-up capital £2,100,000, and leaving £900.000 shares in reserves. The company announces that the demands of the Australian and Imperial Governments for steel productß is so great tlmt the early completion and extension of the, company's works is a matter of growing importanco to the community.