MEETING BY HAY’S

Press, Volume CVIII, Issue 31830, 7 November 1968, Page 15

MEETING BY HAY’S

Proposals For

Discussion

Hay’s Ltd, the Christchurch department store group, will bold a special meeting of Stockholders on December 2 to consider changes to the articles of association. The changes are needed because of the planned merger next August of the department store division of Wright Stephenson and Company, Ltd, Wellington, and Hay’s.

Thd proposals which will be considered by stockholders at the meeting are:— An increase in nominal capital from s3m to slom. Approval for the one-for-four bonus issue at August 1 after the conversion of the present notes. Directors* Increase

An increase in the number of directors to 10 to allow the appointment of three directors from Wright Stephenson to Hay’s.

the change in name of the company to Hay’s - Wright Stephenson. In the memorandum to stockholders, the company says that the Guardian Trust and Executors Company of New Zealand, Ltd, the trustee for the noteholders, has examined the proposed alterations being put to stockholders and is satisfied that these de not prejudice the interests of noteholders.