Talks on Blenheim newspaper continue

Press, 9 October 1982, Page 2

Talks on Blenheim newspaper continue

Blenheim reporter The option for present shareholders in the “Marlborough Express” newspaper tofytake up the 50 per cent holding of R. Lucas and Son. Ltd, expired on September 30. but so far they have not exercised their right under the company’s articles, and no other offer has been accepted. , The managing director of the newspaper, Mr D. M. Furness, said yesterday that discussions were still going on between members of his family who hold the other 50 per cent of the shares, and R. Lucas and Son. of Nelson. No decision had yet been reached.

“This is family business which should never have become public to start with,” he said. The “Timaru Herald” has already said that it has reached agreement with R. Lucas and Son, publisher of the “Nelson Evening Mail,” to buy the company’s 50 per cent holding. It has plans to buy the shareholding in association with Mr John Shacklock, a retired comK managing director, of )n.

i- The Timaru company's acquisition was subject to other shareholders in the “Express” not exercising rights to acquire the shares.