Wattie Shares Can Be Quoted Again

Press, Volume CII, Issue 30125, 8 May 1963, Page 19

Wattie Shares Can Be Quoted Again

(New Zealand Press Association; WELLINGTON, May 7.

Quotation of J. W shares will be resumed exchanges tomorrow, Stock Exchange Associ (Mr J. B. Taylor) said In an official statement Mr Taylor said: “On Wednesday, May 1, I rang Mr Wattie (not on Tuesday as suggested by him) and . asked whether there was any good reason for the sudden increase in the prices of his company’s shares. “Mr Wattie stated that there was no good reason but said that the season had been a record in that area and thSt Shis was weU known. "Far frtyn getting a ‘tip’ from Mr Wattie in respect of this matter, the association’s concern was to see that the interests of shareholders were protected and so thought that the matter would be dealt with on the basis one would expect between a listed company and the Stock Exchange Association of New Zealand. No Co-operation, “Within approximately 30 hours of toy discussion with Mr Wattie notification was received at the association’s office that the company would be making a one for five issue. “Once again I must reiterate that inquiry in respect of this matter was prompted in the interests of shareholders and it appears that the stock exchange has

r attie Canneries, Ltd., , on New Zealand stock the president of the iation of New Zealand I late today. not been treated with the cooperation and with the confidence which H usually expects from its listed companies,'* he said. “Had Mr Wattie been prepared to say that there was a directors’ meeting the foltowing day to discuss financial matters and he did not wiish any statement to be made in the meantime, this position would not have arisen.

"Now that the public have been made fully aware of the whole position and in the interests of the investing public, the executive of the Stock Exchange Association has decided that the suspension of the quotations of J. Wattie Canneries, Ltd, shares wiill be lifted as from 9 ajn. on May 8.