Australian Firm Seeking U.S. Listing Has N.Z. Directors

Press, Volume XCIV, Issue 28104, 20 October 1956, Page 14

Australian Firm Seeking U.S. Listing Has N.Z. Directors

A substantial New Zealand shareholding in the Australian company. Stanhill Holdings. Ltd., which is applying for listing on the New York Stock Exchange, is indicated by the fact that three of the eight directors are Auckland residents. They are Messrs S. Korman. H. Korman and J. A. Gentles. The chairman is Mr E A. Lloyd. Mr Gentles is chairman of Holeproof Industries. Ltd. (formerly Korina Textiles 'N.Z *. Ltd., and Mr S. Korman and Mr H Korman are managing directors. Mr Gentles is also chairman of Berlei Industries (N.Z.). the Dominion Investment and Banking and

Wilson (N.Z.) Portland Cement. He is also a director of the Auckland Gas Company. Bartholomew Timbers. Claude Neon Lights of N.Z.. Phillipps and Impey, and Motor Specialties. Stanhill Holdings, registered tn Melbourne last year, is a'holding company. Issued capita] is £256.000 in 5s 'hares, of which 325 000 w’ere offered for sale at par in October. 1955. to enable the company to become a public one for taxation purposes. The company also issued £285.000 in 6J per cent registered first mortgage stock The director’s qualification is 2000 shares. Current value of the shares, which pay a 12$ per cent, dividend, is around 8s in Australia.