Baillie Motors merger move
(N.Z. Press Association) WELLINGTON, Sept. 8. Baillie Motors, Ltd, Hastings Vauxhall-Bedford dealer, and Farmers’ Motors (HB), Ltd, will merge on November 1. Farmers’ Motors is a subsidiary of the Hawke’s Bay Farmers’ Co-operative, Ltd. In October Baillie Motors will hold a meeting to approve a bonus issue of one new share for each five existing shares. These shares will rank for dividends after November 1.
The meeting will be asked to approve an increase in the authorised capital of the company to s2m, divided into 4m shares of 50c each, and a change in name to Baillie Farmers’ Motors, Ltd. Baillie Farmers’ Motors, Ltd, will issue 1,080,000 50c shares to the Hawke’s Bay Farmers’ Co-operative Association, Ltd, which will then hold 50 per cent of the capital of Baillie Farmers’ Motors.
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Bibliographic details
Press, Volume CXI, Issue 32707, 9 September 1971, Page 16
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135Baillie Motors merger move Press, Volume CXI, Issue 32707, 9 September 1971, Page 16
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