IMPERIAL AIRWAYS.
NEW ISSUE OF SHARES. DIRECTORS’ DECISION. Received June 29, 9.40 a.m. LONDON, June 28. After the shareholders had sought an injunction in the Chancery Division to restrain Imperial Airways from making a new issue of one million shares, asserting that their rights were not safeguarded, the directors agreed that every existing shareholder should be entitled to apnly for the allotment ot one new share for every share held and also liave the right to apply with the public for any additional shares which remain to be allotted.
Imperial Airways now issue of shares at 50s had caused cons derable discontent among the shareholders, many of whom paid over 50s per share and were given only a preference allotment in the new issue; moreover, a commiss on of 4jd pel share’ to he naid to underwriters is described by the Financial Times as a sheer waste of the shareholders money.
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https://paperspast.natlib.govt.nz/newspapers/MS19370629.2.83
Bibliographic details
Manawatu Standard, Volume LVII, Issue 178, 29 June 1937, Page 7
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151IMPERIAL AIRWAYS. Manawatu Standard, Volume LVII, Issue 178, 29 June 1937, Page 7
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