Page 3 Advertisements Column 3

Gisborne Times, Volume XXII, Issue 1757, 24 May 1906, Page 3

PIIOSPEOTOS OK THIS GISBORNE OIL COMPANY. LIMITED. 1. Tho Mimorandum and Artfolca of Atoooiotion wero duly r.giatorod on tho 21st day of May, 1900. 2 The proposed Dirootoru of tho Company, who are to hold oflloo until tho first Ordinary Mio ing of tho Company, which shall bo hold nftir iho S atutory Mert'ng, if tho Statutory Mroting Bhall oiufnm such uppointuicnt, a o ; William Dougl is Lysnar, Gisborne, Solicitor. John Cork, To Atai, Shocpfarmor. !<’,odorick Hal', Gisborne, Plumber D.t\id John Btrry, Gisborne, Brcwor. Go.ffrey St. Every Maolean, Whatatutu, Station Manager. George B.otvn Oman, Gisborne, Pub lioan.

Tbomas John Adair, Gisborno, Draper. 3. Tl o Brokor of tbo Company is John F, Sheridan. 4, Tbo objoota and powers of tbo Oom pany uto Bot out in the Memorandum of Assooiat'oo, a oopy of which is prmtol at tho end hereof, and forma pa t of this Prospectus. 5 Tbo Capital of tbo Company is 4120,000, divided ir to 20 000 Shares of ill oaob. Of these 10,000 aro Prifcrencoi Shades, 10,000 are Ordinary Shares; total, 20 000 Shares. Tho rights attaching to tho various claseoj of Shores aro fixed by the Memorandum of Association and tbo Ait cles of Association. Tbo Preference Srarcs onlitlo tho holders Iborcof; Subject to tbo creation and maintonsnoe of a Reserve Fund and for a ! l tho purposes of Articlo No. 6 hores under to a fixed cumulative preferential dividend at tbo rata cl 8 p9r centum per annum on tho amount paid up thoreon for tbo timo toing, Tbo Ordinary Shares entitle the holders thereof: Subject to tbo creation and maintenance of a Reserve Fund and for all the purposes of Article No. 6 hereunder, and Bubjeot to the right of boldera of Preference Sharoß, to a fixod noncumulative preferental dividend at the rate of 6 p?r centum per annum.

6. 7500 Preference Shares ate now offered to the public for subscription, to be i paid as follows : 5s per share on application, arid 5s per share on allotment, And the remaining 10* per share shell be payable by sails of not ruoro than 2s 6d prr share as the same may be called up by the Dirro'ors, in ececrdanoe with the Articles of AesooiutioD. 7. The maximum number of Bbarea whioh may bo taken up by any 010 Shareholder in tbo first issue of 7500 shall bo limited to 250. 8. The minimum subscription on which the Directors may prooeed to allotment is 2500.

9. The Company has been form'd for the purpofe of: —First, to seeuto land and boring rights for excavating or boriog for oil, gas, petroleum, wax, or other products of petroleum in tha colony of New Z aland, and secondly, (or retiring and marketing all the products of pftro'eum into a marketable commodity, and then placing the eame to the best possible advantage on any markets io the world. 10. The preliminary expenses of and incidental to the formation and establishment of the Company and until tho Company shall bo entitled to oommenoa business are estimated to amount to £l5O, and will be borne by the Company. 11. The Company has agreed to pay to the Broker a oommision at the rate of not exoeeding £2 10s per oent. on all Bbares of whioh he proeures tho sub soriptioD. 12. A Director’s qualification shall be 20 Shares. 13. Tho Company has adopted Table A of " The Companies Act 1903,” except os added to and modified by the general Articles of Association, a copy of which is printed at the ond her and also forcnß part of this prospectu 14. Applications for Shares should bo made upon the form accompanying this Prospectu’, and sent to Thomas John Adair, Interim 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 loss than the number applied for the balance of the applioation money will be applied in reduction of the allottee’s future liability oo tbo Sharoß allotted. Copies of the Prospectus and Forms of Applioation for Shares may bo obtained at tbo Offioe of Mr Thomas John Adair, Gladstone Road, Gisborne. 15. This Prospeotus has been duly filed with tho Registrar of Joint Stock Companies,

D J. BARRY. F HALL. JOHN CLARK, GEOFFREY MACLEAN. W. DOUGLAS LYSNAR. G. B, OMAN. T. ADAIR. Dated the 19th day of May, 1936. Witneßß to the above Bigoature3 : WM. S. MoCREDIE, Law 01e>k, Gtßborne, N.Z. ARTICLES OF ASSOCIATION,

Articles Numbers 36, 65, 70, 74, 75, and 106, and Bub-paragraph (l) of Article 100 of tbe regulations cootainod in Table A to " The Companies Act 1903,” shall not apply lo ibis Company, but tbe remaining Artioles of Table A are hereby adopted, and with tbe following Art clee| constitute the Company’s Regu'ations : (1.) The first ten thousand (10,000) Shares allotted shall be Prefers co Shares, and the balance Ordinary Shares, and after 7500 Bbares aro allotted, any eubsequei t Sba-es issued shall be first offered to tbo then existing Bbaioholders before being offered to tbo public. Should auy hsue of Shares bo over subscribed by tlo Baid Shareholders, the applications shall abate as near as may be in the discretion of ibe Directors pro rata. Tho Directors may out down or reject any application foe Bbares and allot such Shares to such persons and in suoh numbers as in their sole discretion they see fit without giving any reasons.

(2.) On a show of hands every member present in person Bhall have 000 vote, and upon a poll every member present in perron or by proxy shall have one vole for every ten (10) Shares up to odo hundred and fitly (150), but no member shall have more than fifteen (15) votes for Shares held by him in respect to the first issue of Shares to wbbh there is no payment io arrear, end rega-diog any further issue of Sbßres the members takiog up any such further issue sha'l have extra voting powers granted them in the same propor tion of votes as iB allowed by the first issue. (3.) The Directors may refuse to register | any transfer of a Share or Shares without being called upon to give BDy reason. Artioles 4 to 8 ioolusive disclose details already outlined in Prospeotus. (9) Thß number of Directors and the names of the first Directors ehall be deter mined by the Subscribers to the Memorandum of Association, but the Directors may at any time appoint nol more than two additional Directors so that the total number ehall not at any time exceed nice. (10.) The Directors appointed by the Subscribers to the Memorandum of Association shall continue to hold office until the First Ordinary Meeting of the Company, which Bhall be held after the Statutory Meeting, if the Statutory