Page 3 Advertisements Column 3

Gisborne Times, Volume XVIII, Issue 1480, 14 June 1905, Page 3

PROSPECTUS

THEj GISBORNE FARMERS UO-OPEHATIVE COY., LIpMITEDji

1,11110 Memorandum aju.il Articles • .of Association wore duly regialorotl on 1 itlio 20tli day. of February,, 1005 s 2. The proposed Directors' of the Company who arc ito hold office ,until tlio first .Ordinary Mooting of the Company, .which shall he held after the Statutory, Meeting, if the Statutory Meeting shall confirm such appointment, are t JOHN CLARK,, .To Arai, Shooj farmer. FRANK BRAY,TON BARKER, G isboriic. Shoepfanner.. .WALTER RICHARD BARKER Gisborne, Shcepfarmer. .WILLIAM KNOX CHAMBERS Repongaere, Sheepfarmer. PHILIP THORNTON KEN, WAY, Whataupoho, Shcepfarmer. CECIL ALBERT DoLAUTOUR, Gisborne, Sheepfarmer. CIIIRISTOPHIBR JOHN PARKER, Te Arai, Sheepfarmcr. WILLIAM TOMBLESON, Patutahi, Sheepfarmer. 3. The Broker for the Company is Mr Thomas Coleman, of Gladstone road, iG-isborne, Accountant. d, ; The objects and powers- of the Ccmnany arc set out in the Memorandum of Association, which forms part of this Prospectus. 5 The Capital of tbo Company is £IOO,OOO, divided into 50,000 shares of ,£2 oaoli. Of these 20,000 are Preference Shares, 30,000 are Ordinary Shares,, total 50,000 Shares. Tlio rights"’ attaching to tlic various masses of Shares aro fixed by the Memorandum of Association and the Articles of Association. The Preference Shares entitle the holders thereof : Subject to the creation and maintenance of a Reserve Fuind and for all the purposes of Article No. 0 hereunder, to a fixed cumulative preferential dividend at the rate of 8 per centum per annum, on the amoun t paid up thereon for the time being. The Ordinary, Shares entitle the holders thereof : Subject to tho creation and maintenance of a Reserve Fund and for all the purposes of Article No. 6 hereunder, and subject to the right of holders of Preference Shares to a fixed no.n-cumulativo preferential dividend at the rate of 6 per centum per annum. C, 15,161 Preference Shares and 20CIO Ordinary Shares aro now offered .to thfi_J)U'blic for subscription,, to be paid as follows : os per Share on application. 5s per Share on allotment. 10s per Share at three months after allotment, and the remaining 20s per share shall be payable as the same may be called up by t.lie Directors in accordance witn the Articles of Association. Or alternatively the applicant upon allotment may give a Promissory Note at six months with interest added at the rate of 6 per cent, for ,the sum of 5s per Share due upon allotment, and the sum of 10s per Share due three moutns after allotment

-NOTKx —Tlic Promolets da not consider i,t will he necessary, or' desirable to call ,ui> more than 20s per Share, hut they, do not guarantee this or. assume in any way. to bind the Directors hereafter to be appointed by tbe Shareholders. 7. The Company has privately offered the Preference Shares to the Shareholders of the Gisborne Sheepfarmers'' 1 Frozen Meat Company, Limited, as required bv the Articles of Association, and 1S31) Shares have been subscribed, and ; the amount paid on suoh Shares is AM,25!) 15s. ‘.The list of Subscribers to the date of tbe time of this Prospectus can be seen at tli.e office oi Mr Thomas Coleman, in Gladstone road.

8. The minimum, subscription oil which the Directors may proceed ‘to allotment is 7500 Shares (inclusive „f the Shares: already subscribed by. Shareholders in the Gisborne Sheepfarmers' Frozen" Meat Company, Limited.) 9. .This Company has been formed for the purposes of: -First, enabling the Farmers fif the East Coast, by co-operation, in carrying on all kinds of Commercial and Mercantile general business, inclusive of public and private sales of lands and live stock and shipping (as agents or otherwise),, to obtain for themselves the large profits n,ow reaped by other persons and companies in the s-aLo and .distribution of all kinds of farming • produce,, and (secondly) in the supply to farmers. retail storekeepers and the general public of all manner and kind, of goods, chattels, and effects' from time to time required. 10. The preliminary expenses of and incidental to the formation and establishment of the Company, and until the Company shall be entitled to commence business are estimated to amount to £l5O, and .will he borne by the Company. 11. The Company, has agreed to pay to the Broker, a commission at the rate of not exceeding £2 10s percent, on all Shares of which he procures the subscription. 12. A. Director’s qualification shall be 50 shares, and ho must also be a qualified Shareholder. 13. The Company, has adopted Table A of “ The Companies Act, I 1903,” except as added to and modified by the general Articles of Association, which form part of this Prospectus. it. Applications for Shares should be sent to Mr Thomas Coleman, ■lnterim Secretary, together with the amount payable on application. If no allotment is made the deposit will be returned in full, and if the number of shares allotted is less than the number applied for the balance of the application money will be applied in reduction, of the allottee’s future liability on the Shares allotted. Copies of the Prospectus and •Forms of Application for Shares may, he obtained at the office of Mr Thomas Coleman. 15. This Prospectus lias been duly, filed with the Registrar, of Joint Shock Companies. (Signed) W. IC. CHAMBERS. W. It. BARKER. ‘F. B. BARKER. C. A. DeL.AUTO.UR. JOHN CLARK. PHILIP T. KEN WAY. WM. TOMBLESON. C. J, PARKERDated the 18th day of May, 1905, Witness to the above Signatures—,T. A. COLEMAN, ■Accountant, Gisborne,,

NOTE. A “ qualified Shareholder ” means any Shareholder being a Sheepfarmer, Farmer, or Dairyman holding shares constituting a qualification, according to the stock or agricultural and held by him evidenced by the Government Stock Returns or Agricultural Statistics immediately prior to such shares being taken up, under the following scale : SHEEPFABMERS. Who own 500 sheep or upwards. ■j Shares Every 1000 sheep up to 15,000 ... 25 Every 1000 Eheep over 15,000 and up to 25.000 -. .. .. 15 Every 1000 eheep over 25,000 .. 10

FARMERS AND DAIRYMEN. "Who own less than 500 sheep. Every 50 sheep . . .. .. 2 Every 10 acres held for cropping .. 1 Every S cattle beasts .. .. .. 1 No iprcforence shares shall be allotted to any persons wbo are not “ qualified Shareholders,” or who with the shares bo allotted would become “• qualified Shareholders.” Copies of the Memorandum and Articles of Association may be Been at my office, Gladstone road. iHOMAB A. COLEMAN, 1 Interim Secretary.