RICHARD THOMAS MEETING.
Considerable interest was taken in the statements made by Sir William Firth at the recent annual meeting of Richard Thomas and Co. Interest centred on the capital plan outlined by Sir -William. During the course of his speech he explained to the shareholders that along the lines of a scheme providing ,for the replacement of existing 41 and 7 per cent., Debentures by new 4 per cent. Debentures, with the right on the part of the 7 per cent. Debenture holders to Ordinary Shares on what he described as attractive terms, the Company would achieve a large increase in its cash resources and also a large saving in debenture -and bank interest charges. It is proposed to offer' to Ordinary shareholders at par.three new Ordinary Os. 8d. Shares for every twelve Ordinary Shares held. Sir William also made some very interesting remarks on rationalization, while the report which he had to present to the meeting Was a good One and shareholders expressed their gratification of the progress of the. Company:in recent years:
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