Atlas ‘doctors’ granted options
PA Auckland Atlas Corporation, Ltd, shareholders yesterday granted options to the company’s chairman, Mr Alan Gibbs, and its chief executive, Mr Charles Bidwill, to buy 10 per cent of the company’s shares. The resolution was passed by a majority of a handful of shareholders present at an extraordinary meeting. The deputy chairman, Mr Tom Clark, said that Mr Gibbs and Mr Bidwill had been brought into Atlas in 1980 to act as company “doctors.”
At that time, the affairs of the group were in a “terrible mess” and its shares were selling at 25c. Atlas shares were now
selling at $1.65, and the company had made “tremendous progress,” especially in the last 18 months. The problems of the company were such that Mr Gibbs and Mr Bidwill had virtually had to make a fresh start, he said. They had now, however, moulded a new bright young team of executives who were “going out to murder the opposition.” Under the resolution, Mr Gibbs and Mr Bidwill have rights to buy 435,000 shares each at 115 c.
These options can be exercised in lots of 50,000 and are being issued in return for restraint of trade agreements running for five years.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19840501.2.88.18
Bibliographic details
Press, 1 May 1984, Page 19
Word Count
203Atlas ‘doctors’ granted options Press, 1 May 1984, Page 19
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.