- ' MOND NICKEL.
Not the least interesting feature at the recent annual meeting of Mond Nickel was the 'statement by Lord Melchett to the effect that it was proposed to increase the authorirted ordinary capital from £900,000 to £1,500,000 by the creation of 1,200,000 shares of 1(1s. each. These shares are being issued
at a_p_remium of £2 15s. for each 10s. share, the offer being made to existing ordinary shareholders in the proportion of one new share for every three at present held. it leas, Also been decided to reserve a number of shares, not exceeding 100,000, to allocate to those actually concerned with the management of the company on such terms and price as the board, in their discretion, may decide. The Chairman stated that the premium on the new shares, which would amount to no less than £1,700,000, would constitute a substantial reserve in the next balance-sheet. It is also intended to sub- divide the existing £1 ordinary shares into two shares of 10s. each. Lord Melchett was able to give a thoroughly satisfactory account of the present position of the company, and to speak optimistically with regard to the outlook. * * * *
Previous page