PETROLEUM NEWS.

Taranaki Daily News, Volume LVI, Issue 272, 21 April 1914, Page 8

PETROLEUM NEWS.

THE BONIXHON OOMPANT.

The following resolutions >rere at a well attended meeting «f holders in Wellington oa FrM*r.— (a) That the capital of tie Company be increased from £25,000 to iSQfIOOi by the creation of 5000 additional (hares of £6 each.

(fc) That the director# of tie company for the time being, and the ease are by this resolution authorised and ewpowered to issue, as and when they tkiak fit, the new "B" shares in the capital of the company, or such portion of the »ame as the directors may be able to place to subscribers, whether present shareholders or not, and on such terms as to payment of calls as the directors shall think fit, and to issue sueW gharcs as preferential over the shares at present allotted in tli? following prefcr•ncs:—

(<■') In the right of a fixed euuulativo preferential dividend out of prtfts after the rate of eight per centum per *»mim upon the amount of capital fr«n time to time paid up thereon. Shenld the funds at any time be wiffieieit to p,%y a larger dividend- than £8 per ce»tom per annum, the "B" shareholders will participate in such larger or higher dividend. (d) In the right of preference for tha return of both the capital paid up on fie Biiid shares, and for any arrears of dividends after the rate aforesaid, out of the assets of the company o» a liquidation.

i- (c) But such preference shall »ot take i- precedence over the 2(172 Difference t. shares previously issued and shown in i- the balance-sheet annexed herewith; but the new issue of B shares ghall he on an equal footing in all respects with the said 2G72 preference shares. (f) That such preference shares snail be first offered to holders of n | the present allotted capital of the company by duly posted notices. Provided j that if the holders of shares in the present allotted capital for a period of 14 days after notice shall have been posted to them neglect or refuse to ac- , cept shares, theft the preference shares , unaccepted as aforesaid may he ailotte.l to such persons or persons, whether ! shareholders or not. as the directors think fit.