The Directors are recommending that the issued share capital of the company be increased to a figure which more closely represents the value of the company’s real and tangible assets.
This will be achieved by increasing the company’s authorised capital to $56.1 million. To this end, the Directors have decided to recommend to the members a capitalization of $12.9 million utilizing part of the standing to the credit of the profit and loss account in the books of the company. A one for three bonus is to be considered at an extra-ordinary general meeting to be held on December 15, 1999 at the Hilton Hotel.
