Motor Traders gets consent
PA Auckland Motor Traders NZ, Ltd, will proceed with the issue of shares to Borg Warner Australia, Ltd, after a full count of the poll held on the resolution required to sanction the issue. A count last week showed that the issue was approved by a 75.28 per cent majority, but after some votes were ruled invalid on legal advice, the vote in favour of the resolution slipped to 75.13 per cent — just over the 75 per cent required. The issue will raise the Australian company’s equity in Motor Traders to 24.9 per cent;
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Press, 8 March 1978, Page 14
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98Motor Traders gets consent Press, 8 March 1978, Page 14
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