UNION AIRWAYS’ PURCHASE
PRICE BASED ON ASSETS VALUE OF SHARES
(From Our Parliamentary Reporter.) WELLINGTON, August 29. The Government's purchase of all shares in Union Airways on behalf of the National Airways Corporation for £lBO,OOO, was based on the assets value of the shares. These assets included a number of aircraft, large buildings at Milson aerodrome Palmerston North, and other buildings, including a fairly large one at Taieri. The procedure was different in tms case from the purchase of the Bank of New Zealand, where the shares were bought on the basis of the market price and not on .the assets value. Union Airways’ shares were not quoted on the stock exchange. The nominal capital of Union Airways was £lOO,OOO, in 1000 fully paid £lOO shares. When the company was registered In 1985, eight shares were held by individuals, and 592 by the Union Steam Ship Company. The latest list of shareholders, filed last year, showed the Union Steam Ship Company as holding 992 shares, N. S. Falla two, and J. N. Greenland, C. J. Jarvis, K. B Miller, G. R. Ritchie, C. G. White, and Sir Alexander Roberts one each. Since that time Brigadier Falla has died.
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Bibliographic details
Press, Volume LXXXII, Issue 24959, 21 August 1946, Page 6
Word Count
198UNION AIRWAYS’ PURCHASE Press, Volume LXXXII, Issue 24959, 21 August 1946, Page 6
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