Pacer and Kerridge bury hatchet
PA Wellington Kerridge Odeon Corporation and Pacer Pacific Corporation, Ltd, said today in a joint statement yesterday that the differences between them and some members of the Kerridge family which resulted in court proceedings in respect of the Pacer Pacific take-over offer had been resolved. The take-over offer has been accepted by all members of the Kerridge and Williams families so that Pacer Pacific now owns 100 per cent of Kerridge Odeon. Commerce Commission approval for the take-over was given last week. At a Pacer Pacific shareholders’ meeting on
December 7 shareholders’ approval will be sought for issuing 6 million shares to members of the Kerridge and Williams families in full settlement of their 50 per cent of Kerridge Odeon. Approval for a name change to Pacer Kerridge Corporation will also be sought and further details of more of the plans for Pacer Kerridge will be announced at this meeting.
The directors of Pacer Kerridge will be the existing Pacer directors: Messrs David Phillips, Steven Phillips, Brian Talboys, and lan Shaw; with Messrs Robert Kerridge, Daniel Tye, John Egan, and David Bright.
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Press, 21 November 1987, Page 29
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187Pacer and Kerridge bury hatchet Press, 21 November 1987, Page 29
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