KAWARAU GOLD CLAIMS.

Evening Post, Volume CVIII, Issue 140, 10 December 1929, Page 14

KAWARAU GOLD CLAIMS.

(By Telegraph.) (Special to "The Evening Post.") DUNEDIN, This Day. The fifth annual report of the directors of the Kawarau Gold Mining Co., Ltd., states that it is disappointing to have to inform shareholders once more that the position of amalgamation with claimholders is still indefinite, and the.issue of the report has been delayed in-the hope that some finality might have been reached and shareholders could have been informed accordingly. Negotiations are taking place between legal representatives of both parties in an endeavour to prepare an agreement embodying essentially the original terms of amalgamation, which will be satisfactory to representatives of claimholders, and which, also, the directors of the parent company will feel justified in accepting on behalf of their shareholders. As modifications o£ the terms originally proposed, it has now been agreedrthat every claimholder will be given a reasonable opportunity to become a party to the amalgamation, that those claim-holders who do not wish to come in, or are unable to do so, will be relieved of further, liability under their leases,_andthey in turn will release the company^ It has' been agreed that £500 will be advanced out of £10,000 deposited with the Public Trustee to cover formation expenses of the new amalgamated company, and that any subsequent costs of transferring assets to the new company will be paid as incurred. In view of the present negotiations, it is probable that a settlement will be reached in the near future and shareholders will be advised in due course of the result.