H. J. KEARNS MEETING
Appeal For Proxies “Nothing could do more to upset the progress which has been made than changes in the board at this delicate stage in the company’s career,” says the chairman of Hugh J. Kearns. Ltd.. Mr J. W. Harkness, in a circular letter to shareholders in which he appeals for proxies to be made out in favour of one of the directors. The two-page circular reviews the company’s fortunes over the last 12 years and describes the difficulties of the malting business in recent years. The company now makes malt extract, buying its malted grain from the Canterbury Malting Company, and has entered the grain, seed and produce market. The company negotiated unsuccessfully with the Wilson Malt Extract Company, with a view to a merger. The board would be prepared at any time to consider a reasonable take-over offer, but is not prepared “to sit idly by and watch attempts to further devalue the market price of the shares below their true worth in order to make possible a take-over at a ridiculous figure," Mr Harkness says.
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Press, Volume CII, Issue 30287, 13 November 1963, Page 31
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182H. J. KEARNS MEETING Press, Volume CII, Issue 30287, 13 November 1963, Page 31
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