CO129-467 - Governor Sir Stubbs & Acting Governor Claud Severn - 1921 [1-5] — Page 390

383

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 Berneo Co., Ltd., declared 26th

March 1919. The consideration for the sale is the sum of $828,CCO Hong Kong currency, payable in cash (approximately equivalent to £224,250) with interest at 6 per cent. per annum from the 1st January 1920 until payment, and to discharge by Harrisons and Crosfield, Lad., of The China Borneo Co's debts

and liabilities as at 31st December, 1918, amounting to $50,587. 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 shaies for cach $12 share

held in The China Borneo Co., Ltd., and the shares subseriled 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 terus 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 1ar at any time up to the lat January 1927, for shares in the Company up to a total of 100,000. The Chartered C., 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, Londou, 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 concession and Agreements mentioned in the Prospectus or copies thereof can be seen at the

Offices of the Solicitors of the Company at any time during business hours

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 ia 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.

1

19

London, 13th February, 1920.

1

—

- 18-

Page 390Page 391