Page 12 Advertisements Column 1

Press, Volume XCIV, Issue 28104, 20 October 1956, Page 12

NEW OWNERSHIP OF NEW ZEALAND PLAYERS There is another advertisement in this issue drawing attention to the fact that the 31st October has been set as the closing date for the current debenture issue by the New Zealand Players Theatre Trust Board. It also explains how applications for debentures can be made. The purpose of the issue is to provide funds which will enable the Trust Board to carry on the general theatre business already established by the New Zealand Players Company Limited. Since the 26th Juiy the new Trust Board has owned and controlled the Players Company as the result of the gift by Mr and Mis Richard Campion of the Company's entire share capital. The Board intends to wind up the Company and carry on the business of the Players directly itself. For this purpose the Trust has been incorporated unaer the Religious, Charitable and Educational Trusts Act. The Trust consists of five members. It has agreed, as a condition of tne debenture issue, that four representatives of debenture holders will be full members of the Trust Board. Theoe representative members will be elected by debenture holders every two years. In the first instance provisional representatives have already been appointed to the Board. They also took office on the 26th July and will continue as members until the 31at March, 1958. Subscribers to the debenture issue can therefore be assured of two main points. Firstly, the New Zealand Players is no longer privately controlled by two people as it was previously. The venture is now publicly owned and controlled by the Trust Board. Secondly, subscribers will participate in control through their representatives. Over £16.000 has already been subscribed by numerous New Zealanders. It is expected that, by the closing date, the full £20,000 required will have been subscribed. It is hoped that everyone interested in the Players will be a debenture holder, whether for £l. £5, £5O or any larger sum. The debenture scheme and the small denominations were selected so that no-one would be prevented from participating. —Advt.