Share scheme for Maoris

Press, 12 July 1984, Page 28

Share scheme for Maoris

PA Wellington Maori people who did not have the capital to invest in the new Maori International company would soon be able to take advantage of a wage deduction scheme to buy shares, says the company’s managing director. Mr Kara Puketapu said the scheme was a response to the “great interest from grassroots people” many of whom had never bought

shares before. It would enable those who could not find the minimum $lOO shareholding to buy by instalments. He suggested $lO a week for 10 weeks or multiples of this as a simple basis for many buyers and said employers were being asked to give the scheme their support in the next few months. The first share issue opened on June 7 and the

closing date is September 21. Mr Puketapu said the company did not want just one or two big investors. It wanted “as many of those little people” as possible. He did not know how many shares had been bought so far but he said the response from all 15 Maori districts in which it was launched had been “really strong.”