Transporters exchange lm shares
. (N'.Z. Press Association) j WELLINGTON. Freightways Express, Ltd, ;and Transport (Nelson) Holdings, Ltd, have decided on an exchange of shares (between the two companies! - involving the allotment of I one million 50c shares in (each case. The shares would be al-! Hotted at a premium of 40c (and would participate in; dividends for the 1975-76 year. There would be no exchange of directors, both boards being confident that the association between senior executives will achieve the desired objectives. The opinion of both (boards is that the crossholding will cement the [bonds which already exist; and provide a greater market coverage over a wide field of activities. Savings are expected to be achieved through the elimination of duplicated facilities, which exist in many centres, and a more orderlydevelopment of the expansion proposals of both! groups is envisaged.
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Bibliographic details
Press, Volume CXV, Issue 34031, 20 December 1975, Page 19
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140Transporters exchange lm shares Press, Volume CXV, Issue 34031, 20 December 1975, Page 19
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