NEW ZEALAND PLAYERS

Press, Volume XCIII, Issue 28008, 30 June 1956, Page 10

NEW ZEALAND PLAYERS

Authority To Raise £20,000 REORGANISATION OF COMPANY (New Zealand Press Association) WELLINGTON, June 29. The directors of the New Zealand Players Company, Ltd., have received permission to raise £20,000 from the public by the issue of debentures. This was announced in a broadcast to-night by the Minister of Internal Affairs (Mr S. W. Smith).

The money will be used to repay a bank overdraft and to provide working capital for the reorganised company.

It was the intention of Richard and Edith Campion, the founders of the company, to give their shares, representing £lB,OOO. to five newlyappointed trustees who would serve as governors, the Minister said.

“I am happy to say that Mr Campion will continue as artistic director,” said the Minister. “Mrs Campion has been offered and has accepted a seat on the new board, and it is good to know that her outstanding talents are to be available in guiding the destiny of this company in the future.”

The Government was well aware of the value of the Players’ work, Mr Smith said, and it had therefore decided to make a grant of £5OOO from the cultural funds as soon as the first £lO.OOO had been subscribed in debentures.

The chairman of the reformed company will be Sir Matthew Oram Speaker of the House of Representatives.

The board will comprise, besides Mis Campion. Mrs Elsie Lloyd and S' a' Russell. D. I. Macdonald, and G. H. A. Swan (Wellington) D S Cox (Auckland), W. G. V. Fertile :§unedinr h) ' C ' V ’ Smith