Koitaki Rubber Ltd. Makes
p. 34 · Read in the full issue
New Preference Issue.
Koitaki Para Rubber Estates,
LTD., which operates in Papua, is making a new issue of 7,500 7 per cent, cumulative preference shares of £1 each.
Acting on the powers conferred re cently by shareholders, the directors have decided to attach preferential rights to 7,500 shares of the unissued capital, and to offer them to share holders in the proportion of one new share for every ten ordinary shares held.
The new issue is preferential as to capital, and carries a 7 per cent, cumu lative dividend, with a further right to participate pari passu in the ordinary shares in divdend above 7 per cent, per annum. The preference shares have the same voting rights as the ordinary shares.
The directors point out in a circular to shareholders that as the outside lia bilities of the company are approxi mately balanced by liquid investments and chattel property, the preference shares are supported by practically the whole value of plantation property.
Paid-up capital at present is £75,007.
The company has advised that the May output of dry rubber from its plantation was 23,078lb.