CCL buyer in computers

Press, 9 May 1984, Page 38

CCL buyer in computers

PA Wellington The buyer of the 27 per cent interest in Computer Consultants, Ltd (CCL), of Wellington, Mr Errol Williams, is the founder and governing director of the Southern group of companies, which is in fields similar to CCL. It was announced on Monday that Mr Williams, of Auckland, had bought 900,000 ordinary CCL shares at 185 c each, compared with the then market price of 165 c, which represented 27 per cent of the capital of CCL.

Mr Williams bought the shares from Mr Eddie Cornish, who founded CCL in 1969. Mr Cornish has been in ill health, and resigned as chairman for this reason in December. He will continue to hold an unspecified number of shares in the company. Mr Williams, on paper, is now the major shareholder in CCL. The Southern group of companies includes Southern Business Machines, Ltd, which represents some major international computer groups. The companies are in-

volved in the distribution and retailing of office automation equipment and related services including word processors, dictation systems, photocopiers and micro computers. The chairman of CCL, Mr John Holdsworth, said that there would be no change of policy because of Mr Williams’ share purchase. “We see this as a positive move. Mr Williams is a successful businessman in a field allied to CCL, and we look forward to seeing what he can offer the company. “We see his activities as complementary, rather than

being competitive to CCL,” he said. The CCL board had not had an opportunity to discuss a possible place on the board for Mr Williams. CCL now employs 360 information people in New Zealand and Sydney. United Publishing and Printing, Ltd, the Rotoruabased newspaper publisher, which has 17 per cent of CCL, also has more than one million convertible notes due to mature in about three years, and it is believed this will also give it around 27 per cent of the voting rights.