N.Z.I. calls meeting on Sth African interests

Press, 16 April 1980, Page 25

N.Z.I. calls meeting on Sth African interests

PA Auckland The New Zealand Insurance Company Ltd, will hold a special meeting of shareholders next month to consider questions on its business in South Africa. The meeting will be held

at the request of a group of shareholders under a section of the Companies Act. They want the N.Z.I. director to consider a resolution on the company’s South African investments. The resolution asks the

directors to note submissions made to them by the National Anti-Apartheid Council, and calls upon them to report back to the company’s 1980 annual general meeting with answers to questions on involvement in South Africa.

Questions contained in the resolution include how much money NZI is making in Southern Africa, and how the directors view the impact of the developing armed liberation struggle in South Africa on the security of the company’s investments.

The resolution also requests that the meeting instructs the chairman to initiate discussions in South Africa on the possibility of the company selling its investment there, and make contact with various black South African Freedom, Welfare and trade union groups. The meeting is being held at Ellerslie Racecourse on May 2.