£l00,000 Share Offer By Hawke’s Bay Firm

Press, Volume C, Issue 29513, 13 May 1961, Page 16

£l00,000 Share Offer By Hawke’s Bay Firm

(New Zealand Press Association)

NAPIER, May 12.

Mr H. R. Holt, chairman of directors of Robert Holt and Sons, Ltd., sawmillers, timber and hardware merchants. announced today that his company was to convert to public status and to make an issue of shares to general investors.

After the issue the paid-up capital of the company would be £400,000, divided into 5s ordinary shares, with assets in excess of £1,000.000. The 400,000 shares to be offered to the public are to provide funds for further expansion. 100 Years In Business Holts, he said, had been operating in Hawke’s Bay as builders’ supply merchants for more than a century. He believed the present proposals would assist the company to maintain its present leadership in the field. It was expected, said Mr Holt, that the company wouid go on the market towards the end of the month Arrangements had been made for Campbell, Craig and Company, Ltd., Wellington, to underwrite the issue.

After the capital reconstruction, Messrs W. H. Nan-

kervis, of Wellington, and E. D. Wilkinson, of Auckland, will join the board of directors.