WILSONAND HORTON

Press, Volume C, Issue 29588, 10 August 1961, Page 17

WILSONAND HORTON

Public Share Issue (N.Z. Prm Association) AUCKLAND, August 9. The directors of Wilson and Horton. Ltd., publishers of the “New Zealand Herald*’ and the "Weekly News,” have announced that they win place before their shareholders proposals to make a publie issue of shares later this year, subject to the consent of the Capital Issues Committee. They will offer 500,000 ordinary shares of 10s each at a premium yet to be determined. Of the issue 100,000 shares will be reserved for subscription by the staff of the company. If the proposals are adopted it will be the first opportunity the public have had in the 98-year history of the “New Zealand Herald” to purchase shares in the company. Partnership Till 1925 Wilson and Horton. Ltd., was formed as a public company in 1925 to take over the business previously conducted as a partnership known as Wilson and Horton. Although it is a public company, transfers of shares were restricted to relatives of the original partners. The whole of the present issued capital is held by descendants of the original families. The nominal capital was recently increased to £2.600.000 in 4.800,000 ordinary shares of 10s each and 200.000 preference shares of £l. The issued capital is £1.280,000 in 10s ordinary shares. In addition to publishing the “New Zealand Herald,” the "Weekly News.” the "Weekly News Annual.” and the “New Zealand Family Doctor,” the company conducts the largest commercial printing business in Auckland.