Page 3 Advertisements Column 3

Gisborne Times, Volume XXII, Issue 1759, 26 May 1906, Page 3

PROSPECT as GISBORNE OIL COMPANY. LIMITED. 1. l'ho Memorandum and Articles of Association were duly regiatorod on tho 21st day of May, 1000. 2, Tho propoacd Directors of tho Company, who aro to hold oflioo until thn first Ordinary filooiiog of tho Company, which shall bo hold after tho Statutory Meeting, if tho Statutory Meeting shall oonGrm suoh appointment, aro : William Douglas Lysnor, Gisborne, Solicitor. John Cark, To Aral, Shoopfarmor. E odotiok Hal 1 , Gisborne, Plumbor. David John JI irry, Gisborne, Brewer, Go.flfrcy Bt. Evory Maolenn, Whatatutu, Station Manager. George Brown Oman, Gisborne, Publican. Thomas John Adair, Gisborne, Draper.

8. Tie Broken' of tho Company is John F. Sheridan. 4. The objoota and powers of the Com pany aro set out in the Memorandum of j Afßooiatioo, a copy of which is ptintoJ at tho end horoof, nui forms part of this Prospectus. 5 Tho Capital of tho Company is <£20,000, divided it to 20,000 Shares of .£1 oaoli. Of these 10,000 aio Preference Shft'os, 10,000 are Ordinary Shares: total, 20 000 Shares. Tbo rights attaching to tho various claseos of Shares ore fixsd by tho Memorandum of ABSooiution and tho Articles of Assocaiion. Tho Preference Shares entitlo tho holders Iboroof: Subject to tho oreatiou and maintenance of a Roaorvo Fund and for a'l tho purposes of Article No. 6 here-, under to a fixed cumulative preferential dividend at tho rote of 8 par centum per annum on tho amount paid up thoreon for tho time being. Tho Ordinary Shares entitle the holdo s thereof: Subjeit to tbo creation and maintfuanca of a Rasorvo Fund and for all tho purposes of Artiole No. 6 here- ■ under, and subject to the right of holders of Prefereooa Shares, to a fixed non ] oumulativo preferential dividend at tho ' rate of 6 par centum per annum. 6. 7500 Preference Shares are now t offered to tho publio for subscription, to be' paid as follows r

5s per share on application, and 5s per share on allotment. And the remaining 10s per eba r o shall bo payable by calls of not more than 2s 01 per share as the same may be called up by the Directors, in accordance with the Articles of Association, 7. The maximum number of Bhares which may be taken up by any oro Shareholder in tLo first issue of 7500 sha'l bo j 1-mited to 250. 8. The minimum subscription on which the Directors may proceed to allotment is 2500. ! 9. The Company has been formed for the purpoeo of; —First, to sc euro land and boring rights for excavating or boriog for oil, gas, petroleum, wax, or other products of potroleum in the colony of New Z aland, and secondly, for refining and matkoting all the products of petroleum into a marketable commodity, and then placing the same to the beat possible advantage on any matkets in the world. 10. Tbo preliminary expenses of and incidental to the formation and establishment of the Company and until the Company ehall bo entitled to oommanci business are estimated to amount to £l5O, and will be borne by the Company.

11. The Company baa agroed to pay to the Broker a coinmisioa at tbo rate of not exceeding £2 10a per cent, on all Shares of whioh be procures tbo sub soription. 12. A Director's qualification shall be 20 Shares. 13. The Company has adopted Table A of 11 The Companies Act 1903,” oxoept as added to and modified by the general At tiel es of Association, a copy of wbiob is printed at the end bar and also forms part of this proepectu 14. Applications for Shares should be made upon the form accompanying this Pro?pectu>, 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 less tbau the number applied for the balanoe of the application money will be applied in reduction of the allottee’s future liability on tbe Shares allotttd. Copies of tbe Prospectus and Forms of Application for Shares may be obtained at tbe Office of Mr Thomas John Adnir, Gladstone Hoad, Gisborne.

15, This Prospectus has been duly filed with the Registrar of Joint Stock Compauies. D J. BARRY. F HALL. JOHN CLARK. GEOFFREY MACLEAN. W. DOUGLAS LYSNAR. G. D. OMAN. T. ADAIR. Dated the 19th day of May, 1906. Witnees to the above signatures : WM. S. MuOREDIE, Law Cleik, Gisborne, N.Z. ARTICLES OF ASSOCIATION.

Articles Numbers 36, 65, 70, 74, 75, and 106, and sub-paragraph (I) of Article IGO of tbe regulations cootaioed in Table A to “ The Companies Act 1903,” Bhall not apply to this Company, but tho remaining Articles of Table A are hereby Adopted, and with the following Atfc cles' constitute the Company’s Regulations (1.) ,The first ten thousand (10,000) Shares aliotted shall be Preference Share?, and the balance Ordinary Shares, and after

7500 Shares are allotted, any subsequent Shares issued shall bs first offered to the thou existing Shareholders before being offered to tbo publio. Should aoy issue of Shares be over subscribed by tbo said Shareholders, the applications shall abate as near as may be in the discretion of Ibe Directors pro rata. The Directors mßy out down or reject any application for Shares and allot such Shares to such perßors and in suoh numbers a 3 in their sole discretion they see fit without giving any reasons.

(2.) On n show of bands ivory mecnb r present in person shall have Ooe vote, and upon a poll every member present in pereon or by proxy shall have ono vote for every ten (10) Shares up to one hundred and filiy (150), but no member shall bave more than fifteen (15) votos for Shares held by him in respeot to the first issue of Bhares to wbiob there is no payment in arrear, and rega-ding any further issue of Shares the members taking up any such further issue shad have extra voting powers granted them in the same propor tion of votes as is allowed by the first issue.

(3.) Tbe DirroSors may refuge to rrgis-ter any transfer of a Share or Snares without being called upon to give any roason. Arliolfs 4 to 8 inclusive d'sclose detrile already cutliued in Prospectus. (9 ) The number of Directors and the names of the first Directors shall be doStrmimd by ihs Bubsoribers to the Memorandum of Association, but the Directors may at any time appoint cot more than two additional Directors so that the total number shall not st any time exceed nioo. (10) The Direotors appointed by the Subscribers to tbe Memorandum of Association shall continue to bold office undl tbe First Ordirn-y Meeting of the Company, which shall be held afier the Statutory Me tmg, if the Statutory Meeting shall confirm such appointment, which it ie hereby authorised to do l