“Anonymous” group worries S.O.F.

Press, Volume CXIV, Issue 33454, 8 February 1974, Page 12

“Anonymous” group worries S.O.F.

(New Zealand Press Association) DUNEDIN, February 7. The South Otago Freezing Company, Ltd, is concerned about a group of shareholders “doing damage” to the company by anonymously questioning the recommended take-over of the company by Waitaki Industries, Ltd.

The Manager of South Otago (Mr J. P. Bremner) said at Balclutha that company officials had unsuccessfully tried to contact the group. “We think that their comments in the press have sown seeds of doubts in

I shareholders’ minds about i (the take-over,” he said. I In its latest statement, the • 'group said that it would ! meet at Balclutha on Thursday to decide on a policy 1 of action. ■ The group wanted more information from South : Otago directors on the rea- ■ sons for recommending the ! take-over. There was a feeling, espe- i cially among some farmer- 1 shareholders, that South ' Otago would be better as a separate entity rather than part of the Waitaki group. The statement said any |decisions made on Thursday would probably be announced that night. Mr Bremner said the South Otago board of directors was anxious to answer any legitimate questions the group had over the take- ' over recommendation. “We are concerned about the group making statements behind a blanket of anonymity and doing damage to the company by not coming out I into the open,” he said. ' i Mr Bremner said that the chairman of the South Otagol 'board, (Mr J. D. Cochrane)’ 'was expected to make a. ipublic statement about thei (affair very soon.