PROPOSED MERGER

Waikato Times, Volume 121, Issue 20274, 17 August 1937, Page 9

PROPOSED MERGER

SHILLINGS AND MacDUFFS. BASIS OF SHARE HOLDING(By Telegraph.— rresa Association ) WELLINGTON. Monday The secretary of the ?tock Exchange Association of New Zealand reports that a joint communication has been received form MacDulTs, Limited and Shillings Limited, to the effect that negotiations have taken place for amalgamation. The proposed basis for amalgamation will be the formation of a new company taking over the business of both Mac Duffs and Shillings. The 6 per cent, cumulative preference shareholders of Mac Duffs will received one fully-pald-up 6 per cent, cumulative preference share in the new company held In Mac Duffs. together with a bonus of two ordinary fully-pald-up ordinary shares held in Mac Duffs. The ordinary shareholders of Shillings will receive one fully-pald-up 6 per cent, cumulative preference share In the new company for every f» per cent, cumulative preference share held In Mac Duffs, together with a bonus of two ordinary fully-paid-up ordinary shares held In Mac Duffs. The ordinary shareholders of Shillings will receive one folly-paid-up ordinary share in the new company for every ordinary share in Shillings. together with a bonus of one fully-pald-up ordinary share in the new company for every ten ordinary shares held in Shillings.