Report to the ... Zionist Congress and to the Council of the Jewish Agency in ... · 1935-08-01 · 8.1935 · p. Seite 188

In order to be able to carry out its plan of work for the coming years, in accordance with present demands, the Company has recently resolved to increase its share capital from £100,000 to £250,000. It has resolved to issue additional Ordinary shares for £75,000 and Preference shares of £5 each for the same amount. The Preference shares are to bear a fixed interest of 6 per cent, per annum, and the holders thereof are to be entitled, within a certain time, to exchange them for Ordinary shares on payment of a certain premium, while the Company has the option of redeeming the Preference shares after the lapse of ten years. A consortium of Banks has been formed composed of the Anglo-Palestine Bank, Ltd., the Ashrai Bank Co-op. Soc, Ltd., and the General Commercial Banking Corporation, Ltd., who have underwritten the Preference shares to the amount of £67,500; the remainder had already been sold to a friend of the Company. The Board of Directors is as follows : Prof. Otto Warburg, Chairman; L L. Goldberg, Vice-Chairman; Dr. A. Ruppin, Governor; Joshua Hankin and Dr. Jacob Thon, Managing Directors; and Joseph Aharonowitz, I. Feuerring, Dr. G. Halpern, H. Margulies, K. Ruppin, Dr. W. Senator and Moshe Smilansky. 188