New chairman for N.C.F. Kaiapoi

Press, 20 September 1980, Page 19

New chairman for N.C.F. Kaiapoi

Mr E. W. Turrell, a farmer of Kaituna, who is chairman of the meat and wool section of North Canterbury Federated Farmers, has been appointed chairman of N.C.F. Kaiapoi, Ltd. The directors .of the company have announced changes in the board, in accordance with the new Articles of Association adopted on June 12 this year. Messrs I. A. Hart, G. C. Weston, S. J. Chirnside, and D. J. C. Freeman have been appointed to the board as nominees of the Meat Board; Messrs C. S. Stevens and R. H.' Trounce have been appointed by C. S. Stevens and Company, Ltd,; and Messrs F. K. Forrester, A. M. Henderson, and Turrell remain on the board, and will offer themselves for reelection by shareholders at the annual meeting in December.

In accordanc with Meat Board policy, Mr Hart, as its mominee, has been obliged to step doxvn as chairman. Mr Turrell ' was subsequently elected in his place. : - The directors have been ftqld that the loan offer for the purchase of N.C.F. shares has been extended to September 30, giving farmers who have not yet applied or .who may wish to apply for additional shares, the opportunity to take advant-

age of the present loan offered by the Meat Board. Any remaining unallocated shares after that date will be subsequently transferred to the company, when it has been registered as a cooperative under the terms of the Co-operative Freezing Companies Act 1964. It is proposed to register the cooperative on October 1.

Applications had been received to date for more than

90 per cent of the shares offered, it was stated this week.

The company has also been told that an application to the Meat Board for a loan of SI.SM has been approved. The loan is repayable in instalments by 1986, and will be used to finance essential capital expenditure, mandatory hygiene requirements, and the installation of electrical stimulation.