SUGAR SHARES.

Shannon News, 4 May 1923, Page 4

SUGAR SHARES.

(Received,Thursday, 7 p.m.)

SYDNEY, May 2

The chairman of the Colonial- Sugar Refining Company, in ai statement, said that after paying preference share, holders in the liquidated- Fiji Com-, pany, it would be possible-:to divide among the shareholders of the Colonial Sugar Company, as owners of the ordinary shares, portion of the’ cash’ assets not required to conduct’ the busi- > ness outside Australia. It is proposed to pay £2 per share on May 31st. From the same source it is proposed to restore the capital reduced iii 1920 bythe amount of then- returned • to shareholders, which was met by' the Board making a call of £4 a share,-paya-ble on August 4. Both these pay.ments of £2 and £4 were in respect of the capital interest of the parent com. pany in -Fiji and the New Zealand in. stitution, represented by ordinary shares possessed by th e former, re maining assets be distributed- direct by the Sugar Refining Company,- which then would resume the position existiing before the separation of the -com. panies. In view of the altered position created by the winding UP *f the Fijiand New Zealand Company, it was j decided to increase the l-emuneration of the Board of directors from £ISOO to *2500 yearly.