OPTIMISM BY FACTORS
Aim To Restore Ordinary Div.
(N.Z. Press Assn.—Copyright)
MELBOURNE, Dec. 20. The deputy-chairman of Factors, Ltd. (Mr H. M. Kirk) sounded a “note of Cautious optimism” on the future of the company, when he addressed nearly 100 shareholders at the annual meeting in Melbourne today. In his prepared speech, Mr Kirk said directors were investigating a possible reorganisation of the company’s structure, with the resumption of ordinary dividends in view. As well as the continued profitability of the New Zealand subsidiary (Holeproof Industries, Ltd., of New Zealand), negotiations were in progress for the reacquisition by' one of the Australian subsidiaries of property of which Factors lost control during its receivership. Mr Kirk opened the meeting by inviting the former chairman and joint managing director (Mr Stanley Korman) to join the other directors at the table.
Mr Korman, who resigned from the board on November 30, was sitting in the body of the hall.
In reply to Mr Kirk, Mr Korman said while rising to his feet, “No, thank you.”
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Bibliographic details
Press, Volume CVI, Issue 31248, 21 December 1966, Page 25
Word Count
172OPTIMISM BY FACTORS Press, Volume CVI, Issue 31248, 21 December 1966, Page 25
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