Ash. Bergh now John Edmond

Press, 18 December 1986, Page 37

Ash. Bergh now John Edmond

The name Ashby Bergh and Company, Ltd, has finally disappeared from the business scene after shareholders yesterday approved changing the company’s name to John Edmond, Ltd. Some shareholders expressed regret at the name change of the company, which had long historical business associations, but they publicly supported the move. The chairman, Mr Graeme Marsh, read a message from a proxy form sent by Mr Leo Wethey, of Auckland, who wrote he was a grandson of a founder of the company, Mr Ludwig Bergh. Mr Wethey wrote that he regretted the name change but he wished the company a progressive future under the proposed name.

Mr Marsh said that it had not been an easy decision to propose the name change, “but we seek your support for the change to enable the company to develop a new

image as a developing public company.”

It was intended to expand the company “as a free-standing public” one, and as part of that plan it was decided to adopt the name John Edmond, which had been synonomous with hardware for 124 years. The trading name Ashby Ferguson would be retained in Christchurch, and Neale and Haddow, Ltd, for Nelson, he said. There was no vocal opposition to the name change, but at least four shareholders raised their arms in voting against the proposal.

Sales in the first three months of the new year were well ahead of budget, due in particular to record sales in September, the month before the goods and services tax, Mr Marsh said.

(After the meeting he said that the sales were well ahead of the same period last year.) The proposal to increase directors’ fees

from $28,000 to $42,000 was not opposed, but one shareholder asked what expansion the company was planning as a means of justifying the increased payment to directors.

Mr Marsh said that the company had two plans on the boards which the directors had been spending long hours working on.

Three of the directors had returned from Auckland on Monday after negotiations there, but this did not mean that the company was going to trade in that city.