Page 3 Advertisements Column 5

Gisborne Times, Volume XXVI, Issue 2180, 2 May 1908, Page 3

PROSPECTUS OF Directors:— ERNEST GRUNDY, of Gisborne, Cabinetmaker, Managing Director GEORGE VINCENT SHENNAN, of Gisborne, Upholsterer, Managing Director „„ , , FRANCIS STAFFORD, of Gisborne, Timber Merchant. JOHN JOSEPH ROSSBOTHAM, of Gisborne, Tailor CHARLES DANIEL MALCOLM ROSIE, ol Gisboruo, Draper ROBERT ROBERTSON, of Gisborne, Clothier THOMAS CORSON, of Gisborne, Agent INTERIM SECRETARY: C. G. PIESSE, Public Accountant, Adair’s Buildings, Gisborne. tho Company are set out in the Memorof which can bo obtained from tho Secro2. Tho objects and powers of nudum of Association, a copy tary. 3. Tho Capital of tho Company is £o,ooo, divided into 5,U00 shares of £1 each. 4. Of tho above-mentioned shares 1,800 shares, representing 1,800 of the Company’s nominal capital, aro to bo issued and credited as paid up in full, in part consideration of tho sale to the Company, particulars of which aro given in paragraph No. 0 hereof; such further shares as may bo necessary to satisfy tho balance of consideration for such sale as may bo lound to be duo shall bo issued and credited as fully paid up on the ascertainment of such consideration as provided in such contract ol sale. A iurther 2,000 shares aro now offered to the public lor subscription, to be paid as follows: , , .. Five shillings per sliaro on application Fivo shillings per sbaro on allotment, And tho balanco by calls of 5s por sliaro at periods of not less than three months’ interval. 5. Tho minimum subscription on which tho Directors may .proceed to allotment is 1,000 shares. 6 This Company has been formed for the following purposes : (1) To acquire and carry on tho business of Messrs Grundy and Shennan, of Gisborne, Cabinet-makers, Upholsterers, Carpet salesmen, and Fiirnituro Warehousemen. (2) To acquire and undertake the whole or any part ol the business, goodwill, assets, property, rights, or undertaking of any person, firm, or company carrying on or having power to carry on any business as Cabinetmakers, Upholsterers, Carpet Salesmen, Furniture Warehousemen, or the like, which this Company has power to carry on under its Memorandum of Association. (3) And, as set out in the Memorandum of Association, a copy whereof forms part of this Prospectus. V The names and addresses of the Vendors of the said business of Grundy and Sliennan, being the property now proposed to bo purchased or acquired by the Company, are:— ERNEST GRUNDY, of Whataupoko, Cabinetmaker • GEORGE VINCENT SHENNAN, of Gisborne, Upholsterer. 8. The amount to bo paid to the said Ernest Grundy and George Vincent Shennan, as such Vendors, is the sum of £3OO for the goodwill of the said business and the leasehold property of Messrs Grundy and Shennan, to bo paid in 300 fully paid-up shares in the said Company, and a further sum representing tho stock-in-trade, plant, book debts, and furniture belonging to the said firm of Grundy and Shennan, to bo ascertained by a valuation to be made as at the date when the Company shall bo entitled to commence business, is to bo paid to the said Ernest Grundy and George Vincent Shennan for such stock-in-trade, plant, book. debts, and . furniture. Such consideration shall bo paid to the Vendors m the following proportions namelv—For tho goodwill, leasehold properties, stock-in-trade, plant, furniture, and book debts, as at the 30th day of June 1907 in the proportion of twenty-two forty-sevenths to the said Ernest Grundy, and twenty-five forty-sevenths to the said George Vincent Shennan, and tor any increased value in the said business since the said 30th day of June, 1907, up to the date when the Company is entitled to commence business, in tiio proportion of three-fifths to the said Ernest Grundy and two-fifths to the said George Vincent Shennan. 9 Tho 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 £oo, and will be borne by the Company. 10. The Company has agreed to pay a commission at the rate of £5 per centum on all shares subscribed m lots of 200 or under, and £2i per cent, on all shares subscribed in lots of more than 200. 11 Mr Ernest Grundy and Mr. George Vincent Shennan, Managing Directors, are interested in tho promotion of and in the property proposed to be acquired by the Company to the extent only of their interests as Vendors under the contract, particulars of which are given in Clause 8 hereof. I<> a Director’s qualification shall be 50 shares. The Directors shall bo paid'out of the funds of the Company, by way of remuneration for their services, such sum or sums as the Company may from time to time fix at a neneral meeting, and such remuneration shall bo divided amongst them in such proportion and manner as the Directors may determine. 13 Tho stock-sheets and balance-sheet of Messrs Grundy and Shennan, copies of the Memorandum and Articles of Association of the Company, and of the Contract referred to' in Paragraphs No. 6 hereof, can be inspected at the offices of Messrs Chrisp and Coleman, the . Company’s Solicitors, Lowe Street, Gisborne, during business hours. 14 Applications for shares should be made upon the necessary form, and sent to Mr C. G. Picsse, Interim Secretary, together with the amount payable on application. Copies of the Prospectus and forms of application for shares may be obtained at the ofhee of Mr. C. G. Piesse, Adair s Buildings, Lowe Street. 15. This Prospectus has been duly filed with the Registrar of Joint Stoclr Companies. Dated the sixteenth day of March, 1908. ERNEST GRUNDY CHARLES DANIEL MALCOLM ROSIE G V SHENNAN ROBERT ROBERTSON FRANCIS STAFFORD THOS. CORSON J. ROSSBOTHAM Witness to Signatures—O. G. PIESSE, Gisborne. .

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