Meeting May 7
The directors of Hay’sWright Stephenson, Ltd, have called a special meeting of shareholders on May 7 in response to a demand by small shareholders who are concerned about the recent abolition of Hay’s long-standing shareholder discount. The meeting will consider a resolution to add a company article which would have the effect of removing the question of shareholder discounts from the discretion of the board.
The new article would say:
“That each shareholder being the holder of 50 or more ordinary stock units or preference stock units shall be paid each year a discount of 5 per cent on bona fide purchases charged to an account in the name of such shareholder and paid for during each financial year of the company ending on July
The directors have asked shareholders to support their earlier decision to abolish the discount.
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Bibliographic details
Press, Volume CIX, Issue 32274, 17 April 1970, Page 16
Word Count
142Meeting May 7 Press, Volume CIX, Issue 32274, 17 April 1970, Page 16
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