Manufacturers Limited, further particulars were given of the plan which
had been formed, in conjunction with the British Cement Products and Finance Company, Limited, for effecting a merger of the shareholders in Greaves, Bull and Lakin (Harbury Works), Holborough Cement Company, and also in the Ordinary Shares of the Dunstable Portland Company, by means of an exchange of fully paid shares in the Ship Canal Company. In referring to this scheme, the Chairman, Mr. Oliver J. S. Piper, said that it was proposed to offer, in respect of each-fully paid 5s. share of Greaves, Bull and Lakin, one fully paid Ordinary Share of 4s. in the Ship Canal Company, and in respect of each fully paid £1 share of Holborough Cement five fully paid Ordinary Shares of 4s. each in the Ship Canal Company. It has also been agreed by the respective Boards that dividends should be declared forthwith and paid to shareholders before exchanging their shares. The name of their own company, he stated, would be changed to " Allied Cement Manufacturers, Limited." In connexion with this scheme, the capital of the company is to be increased by the creation of 850,000 new 71 per cent. Convertible Preference Shares of £1 each and of 15,000,000 new Ordinary Shares of 4s. each.
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