Applications for Stock

November 1923

BARING BROTHERS & CO. LIMITED,

Having acquired from the Company the above Debenture Stock offer it for sale at

£98 10s. 0d.Per cent, payable as follows


On Application .. .. .. .. £10 per cent

On 5 December .. .. .. .. £88 10s. ” “


A full half year´s interest will be payable on 5 June 1924

Applications for £250,000 of the Stock have already been made, and these applications will be accepted in full on the terms of this offer.

Applications which must be for £100 Stock or multiples thereof should be made on the accompanying form and be lodged with Baring Brothers & Co., Limited, 8, Bishopsgate, London, E.C. accompanied by a remittance for the amount payable on application

If any application be accepted for less than the amount applied for, the balance of the application money will be appropriated towards the amount payable on the 5th December, and any surplus then remaining will be returned. Where any application is unaccepted, application money will be returned in full. Failure to pay the amount due on the 5th December will render the amount previously paid liable to forfeiture and the acceptance to cancellation.

Interest at the rate of 6 per cent per annum will be charged on instalments in arrears.

Scrip Certificates to Bearers in denominations of £1,000, £500, and £100 each will be issued in exchange for Letters of Acceptance after payment of the balance due on 5th December, 1923.

Baring Brothers & Co Ltd will procure that all Debenture Stock applied for hereunder in so far as applications are accepted will be allotted direct to the applicants or their nominees by The Denaby and Cadeby Main Collieries Limited, and the names of the applicants or their nominees after payment of the final instalment will be entered in the Company´s register as holders of full paid Debenture Stock against surrender of the Scrip Certificates.

Debenture Stock will be registered at the offices of Baring Brothers & Co Limited and will be transferrable in amounts of £100 and multiples thereof.

The Trust deed contains the following clause:-

“The Trustees shall not by reason of their fiduciary position be in any wise precluded from making any contracts or entering into any transactions with the Company in the ordinary course of the business of the Trustees and without prejudice to the generality of these provisions it is expressly declared that such contracts and transactions include any contract or transaction in relation to purchasing or otherwise acquiring or selling or placing stock, shares, debenture stock, debentures or other securities of the Company or in which the Company is interested and shall not be liable to account for any profits made by them in connection therewith”.

The price payable by Baring Brothers & Co. Limited to The Denaby and Cadeby Main Collieries Limited for the Debenture Stock now being offered for Sale is 95 percent. Baring Brothers & Co. Limited are paying brokerage and all the expenses of this offer including advertising. Baring Brothers & Co. Limited will act as Registrars of the Stock, and as remuneration for their services as Registrars and Trustees will receive a sum of £500 per annum.

A brokerage of five shillings per £100 will be paid by Baring Brothers & Co. Limited in respect on accepted applications bearing the stamp of a broker, banker, or other approval agent.

Application will be made to the Committee of the Stock Exchange for permission to deal in the Debenture Stock and the official quotation will be applied for in due course.

Copies of (1) the Memorandum and Articles of Association of the Company (2) the Resolution creating the £800,000 Debenture Stock; (3) the Agreement under which Baring Brothers & Co. Limited have acquired the Debenture Stock now offered for sale and the originals of the letter from the Chairman and the Accountants Certificates, and Trust Deed can be seen at the offices of Messrs Bischoff, Coxe, Bischoff and Thompson, Great Winchester Street, London, EC2 at any time during usual business hours while the list remains open.


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