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Under an agreement dated 10th December 1919 Harrisons and Crosfield,
Ltd., of 1 to 4 Great Tower-street, E. C. have agreed to purchase, as from the
1st Janurry 1919, the whole of the undertaking, property and assets of The
China Borneo Co., Ltd., of 4, Queen's buildings, Victoria, Hong Kong, as
existing at that date, less the sum of $82,800 cash applied in the payment of the
dividend to the shareholders of The China Borneo Co., Ltd., declared 26th
March 1919. The consideration for the sale ia the sum of $828,000 Hong Kong
currency, payable in cash (approximately equivalent to £224,250) with interest
at 6 per cent. per aunum from the 1st January 1920 until payment, and to
discharge by Harrisons and Crosfield, Ltd., of The China Borneo Co's debts
and liabilities as at 31st December, 1918, amounting to $50,537. The share-
holders in The China Borneo Co., Ltd., are also given the prior right to
subscribe for shares in the Company at the rate of 2 shares for each $12 share
held in The China Borneo Co., Ltd., and the shares subscribed in exercise of this
right will be provided out of the 125,000 shares reserved for subscription by
or through Harrisons and Crosfield, Ltd.
Under an agreement dated 29th January 1919, Harrisons and Crosfield,
Ltd., agree to resell the undertaking and assets of The China Borneo Co., Ltd.,
to this Company on exactly the same terms and at the same price (plus actual
out of pocket expenses), the only advantage gained by them on the resale being
that they are granted the right of subscribing at par at any time up to the 1st
January 1927, for shares in the Company up to a total of 100,000. The
Chartered Co., has a similar right, which was stipulated for by it as a term of
granting the Timber concession above referred to.
The Constructive Finance Company, Limited, of 9 and 10 Token-house-
yard, Loudou, E. C., have agreed to underwrite 75,000 shares of the present
issue at a commission of 5 per cent.
The Memorandum and Articles of Association, the conecasion and
Agreements mentioned in the Prospectus or copies thereof can be seen at the
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Offices of the Solicitors of the Company at any time during business bours whilst the Subscription List remains open.
Application for Shares may be made on the form below and sent to the Company's Bankers, together with a remittance for the amount payable on application. Such application will be accepted only upon the terms of the full Prospectus.
Where no allotment is made the application money will be returned in full, and where the number of shares allotted is less than the number applied for, the balance of the amount paid on application will be applied towards the amount payable on allotment, and any balance remaining will be returned.
Failure to pay any instalments when due render previous payments and any shares allotted liable to forfeiture.
Prospectuses and Forms of Application for shares can be obtained from the Company's Bankers and Brokers and from the Offices of the Company.
A brokerage of 3d per share will be paid by the Company on Shares applied for and allotted on applications identified as coming through brokers and approved agents.
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London, 13th February, 1920.