R OKANA CORPORATION LIMITED
SIR AUCKLAND GEDDES'S REVIEW
he nineteenth annual ordinary general meeting of the Rhokana oration Limited was held on Wednesday, December 17th, at Old Jewry, London., E.C.
Right Hon. Sir Auckland Geddes, P.C., G.C.M.G., K.C.B. ,
Ilairman), presided.
The following is a statement by the Chairman, which had been culated with the report and accounts and was taken as read: As you were informed in the directors' report last year it is not nsidered advisable that statements as to the extent of our mining ctivities should be made public.
YEAR'S TRADING RESULTS
From the profit and loss account you will see that our trading profit amounted to £2,157,018. After providing for debenture and loan interest, depreciation reserve account and development reserve account the amount carried to the appropriation account was £1,882,803.
Your directors recommend a final dividend of 15 per cent., bringing the total dividend for the year to 3o per cent., as compared with 624 per cent., 624 per cent., so per cent., and 4o per cent, for the years ended June 30th, 1937, 1938, 1939, and 1940 respectively. I must again repeat the remarks contained in the chairman's speeches for the last two years and contrast the amount of the issued ordinary and " A " share capital of the corporation of £2,500,002 with the capital which has -been raised and employed in the corporation's undertakings, which is just under £18,000,000. Distribution there- fore this year of £750,000 by way of dividend represents a return of 4.17 per cent. on capital invested in a wasting asset.
A resolution will be put before you for the conversion into stock of the ordinary and " A " shares in the capital of the corporation which have been issued and fully paid up to take effect as from January ist, 1942.
The chairman then moved: "That a final dividend at the rate of 15 per cent., less tax, be payable in respect of the year ended June 30th, 1941, to the holders of the ordinary and ' A shares of the corporation registered as at December 3rd, 1941, making with the interim dividend of x5 per cent., less tax, paid on May 14th, 1941, a total dividend of 3o per cent., less tax, in respect of the year ended June 30th, 1941."
The resolution was carried unanimously.
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