INSURANCE SHARES
DECISION OP THE NEW ZEALAND COMPANY
Prpp« Association, ‘ AUCKLAND, May 14. Directors of the New Zealand Insurance Company have decided to proceed with the policy outlined in the chairman’s speech at the annual meeting in February of dividing the shares of the company, and the necessary legal steps are now being taken to bring this into effect. The scheme recommended is that each £lO share paid up to £4 is' to he divided into ten shares of £1 each paid up to Bs. Shares have recently been sold at £l2 15s, and on this basis , the equivalent market price after subdivision would be 23s Get. At the same time, shareholders' will be asked to approve of the transfer of £150,000 from tho reserve fund to capital. This will make tho amount paid up on shares, after division, of 10s. Four special meetings' of shareholders are required to enable these alterations to be carried into effect.
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https://paperspast.natlib.govt.nz/newspapers/NZTIM19190515.2.35
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New Zealand Times, Volume XLIV, Issue 10280, 15 May 1919, Page 4
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157INSURANCE SHARES New Zealand Times, Volume XLIV, Issue 10280, 15 May 1919, Page 4
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