“Press Should Be Admitted”

Press, Volume CIX, Issue 31922, 25 February 1969, Page 16

“Press Should Be Admitted”

The directors of small companies could begin to think they owned shareholders’ interests if their general meetings were not opened to the newspapers, Mr H. Miller told a meeting of the Gisborne Chamber of Commerce executive committee,

He was commenting on a letter received from the chairman of the Associated Chambers’ legislative committee (Dr G. A. Lau) who said the admission of the newspaper to all public company meetings was “going too far.” The legislative committee is considering recommendations to be made to the Government, which is to revise the 1955 Companies Act. The Gisborne Chamber suggested that the newspapers should be admitted to annual and special general meetings of all companies. At present the newspapers

can attend the meetings only by invitation. Dr Lau also said: “1 think a good case can be made out that all companies whose shares are listed on the Stock Exchange should admit the newspapers at their general i meetings and I shall find out :from the Stock Exchange As- ' sociation whether this .matter [has been considered by them.” Mr Miller said he did not agree with Dr Lau’s views. Directors of private companies whose shares were not listed could begin to think they owned the businesses, he said.