Never again on a Tuesday
Tuesday is not always regarded as an auspicious day for crucial company meetings. Some companies’ articles of association require proxy votes to be in the hands of the company no later than 48 hours before the meeting, otherwise they are not accepted. In the case of yesterday’s meeting of shareholders of the New Zealand Refrigerating Company, Ltd, called to consider merger resolutions with Waitaki Industries,
Ltd, in which proxy voting was of great importance, the firm had to open to accept proxies up to 2.15 p.m. on Sunday.
Independent auditors had to check that these proxies were valid, a task which took seven hours on Sunday and most of Monday to complete. New Zealand Refrigerating’s computer was also used to collate the proxies. It might not be surprising to hear that any meetings of this type will in future be held on Fridays.
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Bibliographic details
Press, Volume CXV, Issue 33932, 27 August 1975, Page 1
Word Count
148Never again on a Tuesday Press, Volume CXV, Issue 33932, 27 August 1975, Page 1
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