Way clear for Ravensdown
An Or d e r-in-Council passed earlier this month Kill enable both Ravensdown Fertiliser Co-operative, Ltd, and Ravensdown Supply Cooperative, Ltd, to be registered as co-operative companies. Ravensdown Fertiliser Cooperative, Ltd is a newlyformed fertiliser manufacturing company in which the present Ravensdown company holds 60 per cent of the shareholding and Kempthorne Prosser holds 40 per tent.
The Ravensdown Supply Co-operative, Ltd, is merely * name change for the current Ravensdown Fertiliser Company. The chairman of Ravensdown (Mr Peter Elworthy) raid that the registration also required an alteration
to the company’s memorandum of association. This has been approved by shareholders, but the company was awaiting approval of the Supreme Court, he said.
In the company’s annual report Mr Elworthy referred to “legal difficulties in connection with the company being registered as a cooperative. “The arrangement we have made is different from the normal co-operative situation, and as a result, requires an Order-in-Council so that we can obtain the benefits accruing to a cooperative,” he said in his chairman’s review.
This month’s Order-in-Council provides for a new class of co-operative which applies to both the Ravensdown companies.
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Press, 20 April 1979, Page 12
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189Way clear for Ravensdown Press, 20 April 1979, Page 12
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