Mt. Sisa Reconstruction

Mount Sisa Gold Fields (Papua), N.L., proposes to form a new company to acquire all the assets except 18,143 fully paid shares in Gold Mines of Papua Ltd., and to wind up the old company voluntarily. The new company will have a capital of £18,750, in 150,000 shares of 2/6 each, of which the present company will receive 54,430 fully paid shares, organisers and brokers will receive 15,570 fully paid shares, and 80,000 shares will be con tributing. Shareholders will have the right to underwrite a minimum parcel of 500 shares, for which they will receive per cent, in fully paid shares, together with a cash brokerage of 1d per share. After the registration of the new company the fully paid shares held in Gold Mines of Papua Ltd. will be distributed to the present shareholders in a proportion of one share for every 15 Mount Sisa shares held. Shareholders will also receive one fully paid share in the new company for every five shares held. —S.M. Herald.