Transvaal Mortgage Loan and Finance Company Act 1899

JurisdictionUK Non-devolved
Citation1899 c. ciii
[62 & 63 VICT.] Trammed Mortgage^ Loan, [Oh. ciiL]
and Finance Company's Act, 1899.
An Act for enabling the Transvaal Mortgage Loan and
Finance Company Limited to arrange with the holders
of their Founders' Shares for subdividing Shares and
creating certain preferences and for other purposes.
[13th July 1899.]
HEREAS the Transvaal Mortgage Loan and Finance Company
Limited (in this Act called " the Company ") was incorporated
in.the year 1889 and is incorporated under the Companies Acts
1862 to 1867 as a company limited by shares :
And whereas the capital of the Company was £500,000 divided.
into 99,500 ordinary shares of £5 each and 500 Founders' shares of
£5 each all of which have been issued and are now registered in
the names of the shareholders:
And whereas the sum of £2 per share has been called up on all
the said 99,500 ordinary shares of which £196,021 5$. has been
paid and the sum of £5 per share has been paid up on all the said
Founders' shares and the 500 Founders' shares have all been issued
and are fully paid :
And whereas the capital of the Company was in the year 1890
increased to a total of £2,000,000 by the creation of 300,000 shares
of £5 each ranking pari passu in all respects with the said ordinary
shares but none of such new shares have yet been issued:
And whereas the Founders' shares carry the right to one-half the
profits of the Company in each year after payment of a dividend of
8 per centum on the ordinary share capital and to one moiety of
any assets of the Company remaining after payment and discharge
of the debts and liabilities of the Company and the repayment of
its paid-up share capital:
And whereas the articles of association of the Company registered
at its incorporation contained the following provisions;
" In all questions which shall arise, between the holders of
the Founders' shares amongst themselves or between the
{Price 6d.] A 1

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