PETROUS MERGERS
Investigations Agreed To
(N.Z. Prest Association)
DUNEDIN, Dec. 6.
Directors of Petrous Industries, Ltd., will investigate three proposals for possible merger or take-overs.
This was agreed to by shareholders at the company's annual meeting today. While the directors had not yet received any formal takeover or merger proposals, there were indications that othens were interested in the company, the chairman (Mr R. J. Knowles) said at the close of the meeting. The company had recorded losses in recent years and directors indicated in their annual report that they were dissatisfied with results. Mr Knowles reviewed the company’s affairs to 16 shareholders present at the meeting, all of whom approved of the steps to investigate the possible take-over or merger proposals. Before any decision would be taken on the future of the company, directors intend to call another meeting, the chairman said.
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Bibliographic details
Press, Volume CVI, Issue 31236, 7 December 1966, Page 25
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143PETROUS MERGERS Press, Volume CVI, Issue 31236, 7 December 1966, Page 25
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