COMPANY’S CAPITAL
ABANDONMENT OF SCHEME A circular to shareholders issued by Newton King, Limited, states that the directors have found it impossible to proceed with the proposals for the rearrangement of the company’s capital. The situation has arisen owing to the Finance Emergency Regulations, 1940 (No. 2), the provisions of which have nullified any prospective benefits of the scheme.
The directors intend to pay the preference dividend for the year ended April 30 of £5 4s per cent, without deduction of social security or national security taxes. However, in future, both taxes will be deducted from preference dividends. Payment will be made on October 1.
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Waikato Times, Volume 127, Issue 21220, 17 September 1940, Page 7
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105COMPANY’S CAPITAL Waikato Times, Volume 127, Issue 21220, 17 September 1940, Page 7
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