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UNIVERSAL COMPANY OF THE SUEZ SHIP CANAL.
ISSUE OF 333,333 BONDS
guaranteed by the Property of the Suez Ship Canal and all its
Equipment,
BY THE GENERAL REVENUE OF THE COMPANY, by the value and income
of the Company's land
1° INTRODUCTION.
The Universal Company of the Suez Ship Canal was founded in 1858
with a share capital of two hundred million francs.
It has acquired, during the work, as a result of sales of land
located along the freshwater canal, of compensation and of the
deployment of capital, the sum of one hundred million which it
allocated to the cost of creating and appropriating the land developed
or to be developed along the ship canal, these representing, in
the immediate future, a considerable capital gain.
The loaned sum of one hundred million francs, was deemed necessary
to complete the canal, and hand over to shipping, on 1 October
1869, a passage whose annual turnover is estimated at sixty million
francs.
2° GENERAL CONDITIONS OF SUBSCRIPTION.
In execution of the decision taken 1 August 1867 by the General
Assembly of Shareholders, a public subscription for the investment
of 333,333 shares created by the Universal Company of the Suez
Ship Canal is opened under the following terms:
These shares are in bond form and listed on the Paris Stock Exchange.
These are issued at 300 FRANCS, payable on 1 October 1867.
They shall accrue annual interest of 25 FRANCS, payable by half-year
period, on 1 April and 1 October of each year, without duty or
deduction.
They shall be redeemable at 500 francs over 50 years by QUARTERLY
draw.
The first draw shall take place on 15 September 1868, and the
redemption of the issued shares shall be effected on 1 October
following, and so on, EVERY THREE MONTHS.
The price of each share, set at 300 francs, is payable in the
following manner:
25 francs at the subscription.
25 francs at the allocation.
75 francs from 5 to 15 November 1867.
50 francs from 1 to 10 January 1868.
50 francs from 1 to 10 April 1868, with the deduction of the coupon
of 12.50 francs.
75 francs from 1 to 10 July 1868.
TOTAL. 300 francs. – It is therefore an INVESTMENT which, by reason
of the payment dates, provides 8.59 0/0, not including the profit
on the amortisation.
Beginning with the payment of November, the Company shall exchange
the nominal receipts for provisional bearer-form stock; and, following
complete payment, the provisional stock shall be exchanged for
permanent bearer-form stock nominal deposit certificates.
Beginning with the said payment of November, bearers shall have
the faculty to contract, in anticipation, out of all periods of
payment not matured. In this case, they shall be refunded interest
of 60/0 per year.
Failure to meet the payment dates on the agreed deadlines shall
result in the subscribers in arrears being liable for interest
of 90/0 of the outstanding amounts.
In accordance with the wish of the General Assembly, the subscription
of each subscriber shall not be reduced provided he does not exceed
the number of shares which he holds. The surplus of his subscription
shall be subject, where necessary, to the same reduction conditions
as those of other subscribers.
THE SUBSCRIPTION SHALL BE OPEN
from Thursday 26 to Monday 30 September inclusive, and on Sunday,
from 10 o'clock in the morning until 4 o'clock in the afternoon:
In Paris, at the Universal Company of the Suez Ship Canal, Square
Clary, n° 9
(boulevard Haussmann and rue Saint-Nicolas-d’Antin, n° 33);
In Alexandria, at the High Office of the Universal Company of
the Suez Ship Canal;
In the departments from the correspondents of the Company;
From Messrs Notary;
Overseas, from the Correspondents of the Company.
Payments shall also be received, to the credit of the Universal
Company of the Suez Ship Canal:
In Paris at the Crédit foncier de France,
at the Crédit agricole, rue Neuve-des-Capucines, n° 19;
at the Société générale de Crédit industriel et commercial, rue
de la Victoire, n° 72.
And in the departments at the branches of the Banque de France
for amounts of 100 francs and more.
Subscription may also be conducted by correspondence.
Letters of subscription must be sent to the headquarters of the
Company, in Paris, complete with the amount of the first payment.
Paris, 14 September 1867.
The Chairman,
FERD. DE LESSEPS.
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