H.B. Farmers bid favoured by Adair
PA Gisborne The directors ©f Adair Brothers, Ltd, Gisborne retailer have recommended shareholders to accept the take-over offer by Hawkes Bay Farmers’ Co-operative Association, Ltd. Adair Bros runs a large (department store in the [main street of Gisborne, and Hawke’s Bay Farmers’ owns [the merchant firm of Com- ■ mon and Shelton in Gisborne. The Adair Brothers directors say that the retail sector generally has not been a profitable field for investment. particularly for small comnanies. [ “A ready market for the company’s shares has not been available and the return on money invested has not been high. “Recent improvements in store layout, and merchandising policy are coming to fruition, but there is no short-term prospect of a greatlv increased yield on investment.” "The offer provides an alternative to shareholders [who wish to realise on their (investment, and obtain ar [better yield from their capiI tai,” says the directors’ statelment.
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Press, 16 June 1979, Page 19
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154H.B. Farmers bid favoured by Adair Press, 16 June 1979, Page 19
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