MERGER POSTPONED.

Auckland Star, Volume LXI, Issue 171, 22 July 1930, Page 8

MERGER POSTPONED.

ICE CREAM PROJECT.

AN INFORMAL CONFERENCE,

Shareholders in two well known ice cream companies met at the Chamber of Commerce rooms this morning only to find that the merger proposal they had been invtited to consider was out of order, and could not be the subject of any resolution.

Tlie chairman of directors of Robinson Ice Cream Company, Mr. W. M. Neumegen, presided, and stated that unfortunately the proposed .meeting could not be held owing to two irregularities. One was that the length of notice calling the meeting was insufficient, the other that the purpose for which the meeting had been convened was not sufficiently disclosed. However, as there was a good attendance of shareholders representing both the Robinson and the New Polar Companies, the opportunity might be taken to secure their views in .an informal discussion. The offer was promptly taken advantage of, many shareholders voicing _ their opinions. Several of those concerned in the Robinson Ice Cream Company protested strongly against the terms of the proposed merger, which, it was stated, included a provision that shareholders of the Polar Company were to receive £12,000 as good will.

As already indicated no resolutions were moved, but it is understood that tlie directors are arranging to convene a fresh meeting and in the meantime shareholders in "both companies are to be furnished by circular with full details of the proposals.