BENDIX SAGA CONTINUED
Extraordinary meeting c
(N.Z. Press Assn—Copyright) MELBOURNE. The long drawn-out and unhappy saga of Bendix ConHsolidated Industries, Ltd. will ■ enter another phase with an ' extraordinary general meet- ■ ing to be held this week. 1 The meeting has been called by the Melbourne merchant bank Tricontinental Corporation. Ltd. to remove Bendix’s chairman (Mr J. Guss) and two other directors. Mr L. M. Brown and Mr I. V. Dear. Tricontinental is also proposing to install a wellknown Melbourne chartered accountant. Mr E. H. Neimann. to the Bendix hoard in Mr Guss’s place. Mr Neimann is already the receiver of Automotive and General Industries, Ltd. which holds more than 90 per cent of Bendix’s issued capital. Mr Neimann was appointed to Auto and General on August 28 by Tricontinental, which held a mortgage over Auto and General’s Bendix shares. As the Bendix shareholding is Auto and General’s only significant asset. Tricontinental has presumably reasoned that Mr Neimann might as well be in charge of Bendix,; too.
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Press, Volume CXIV, Issue 33665, 15 October 1974, Page 25
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166BENDIX SAGA CONTINUED Press, Volume CXIV, Issue 33665, 15 October 1974, Page 25
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