Resolutions approved at the Extraordinary General Meeting on November 7 were:
1)That the authorized capital of the company be increased from $225 million to $400 million by the creation of 350 million ordinary shares of 50 cents each;
2)That there be an increase in the issued share capital of the company by the issue of 105.5 million shares of fifty cents each. These new shares are to be offered at a price per share to be determined by the Directors to persons on record on November 21, 1996 in the proportion of one new share for every four stocks held on that date.
3)That the company implement and establish an Employee Shareownership Plan under which 63 million shares be made available for subscription by employees of the company.
4. That the directors of the company convert the new ordinary shares in the capital of the company created on the increase in the authorized share capital into ordinary stock as soon as they are fully paid-up.