BUSINESS AMALGAMATION

Gisborne Times, Volume LIII, Issue 5536, 19 July 1920, Page 7

BUSINESS AMALGAMATION

PROPOSAL APPROVED BY GISBORNE FARMERS’ CO-OP. SHAREHOLDERS.

RESOLUTION OF CONFIRMATION

■ A general meeting of tlio shareholders of the Gisborne Farmers’ Coop. Co., Ltd., was held on Saturday m the New Zealand Lisurance Buildings, for the purpose of confirming the resolutiom-jiassecl at the previous general meeting of shareholders agreeing to an amalgamation of business interests with the Gisborne Sheepfarmers’ Frozen Meat Company and other trading companies. Mr G .J. Black presided. After the reading of the minutes, Mr E. L. Lees said the minutes stated that the resolution was unanimous, whereas a number of people had not voted. He thought that if they all voted in favor of the motion, they would not be entitled to draw money irom the company on their shares. The. secretary (Mr W. H. Terry), in reply, pointed out that it was generally understood that on the “Aye or No” process those who did not rote mere in favor of the resolution. He was of opinion that tlio shareholders would have an opportunity later of realising on their shares when the company went into voluntary liquidation

The motion confirming tile resolution to amalgamate was moved by Mr G. J. Black, seconded by Mr F. Stafford, and carried.

Mr E. L. Lees said that he had been asked by several members of tlio staff to bring before the meeting the question of their position under the amalgamation. Mr Black: That is a matter for the directors. •

Mr Lees: I was asked to bring it up. and I have-done so.