The Hongkong Land Investment and Agency Co., LIMITED.
32
SPECIAL RESOLUTIONS.
Passed on the 6th April, 1889.
Confirmed on the 23rd April, 1889.
1. That the capital of the Company be increased to the sum of five million dollars by the issue of twenty-five thousand new shares of one hundred dollars each, on which new shares a first call of fifty dollars per share shall be paid as hereinafter provided, and the balance of fifty dollars per share shall be payable in such amounts, at such times, and on such conditions as the Board may determine, and that the Board be authorised to issue such new shares at such a premium (not exceeding fifty dollars per cent) as it may think fit, such premium to be paid on allotment.
2. That of such new shares twelve thousand five hundred or (as the case may be) a number comprising, or equivalent to, one new share for every complete number of two existing shares be offered to the persons who on the 2nd day of May, 1889 shall be the registered shareholders of the existing shares, in the proportion of one new share for every complete number of two existing shares, and such offer shall be made by a notice specifying the number of new shares which each such registered Shareholder shall be entitled to take up, and limiting a time within which the offer, if not accepted in writing, will be deemed to be not accepted. The first call of fifty dollars on every such accepted share shall be paid at the time of acceptance, and all such non-accepted shares, and also the remainder (if any) of the said twelve thousand five hundred new shares shall be disposed of in such a manner, at such times, and on such conditions as the Board may determine.
3. That the remaining twelve thousand five hundred new shares be offered to the Public in such a manner, at such times and on such conditions as the Board may determine, but so that the first call of fifty dollars per share on these remaining twelve thousand five hundred shares shall be paid on application.
4. That all premia on the said new shares be carried to the Reserve fund mentioned in Article No. 98 of the Company's Articles of Association.
ALEXANDER LEVY, Secretary. (pro tem.)
Registered with the Registrar of Companies on the 29th April, 1889.