Denham Shale Appointed To Eastern Hi Fi Board

Thursday, 28 October 2004, 4:50 pm
Press Release: Eastern Hi-Fi Board

From: "John Draper" To: "John Draper" Subject: SHALE.doc Date sent: Thu, 28 Oct 2004 14:39:39 +1300
28 October 2004

Auckland lawyer and listed company director Denham Shale is joining the governing board of audio visual equipment distributor and retailer Eastern Hi Fi Group Limited as a non-executive director.

At present Mr Shale is Chairman of Hector Paskel Limited the parent company of The Farmers' Trading Company group. He is also on the boards of listed companies Oceana Gold Limited, Owens Group Limited and Turners Auctions Limited and non-listed Munich Reinsurance Company of Australasia Limited plus several other private companies.

Mr Shale is a Fellow of the Institute of Directors in New Zealand. His other appointments include Chairman of the Japan New Zealand Business Council, a board member of the American Chamber of Commerce and of the New Zealand United States Council. He is also Chairman of the St Joseph's Mercy Hospice Foundation.

Rick Bettle, the chairman of Eastern Hi Fi, welcomed Mr Shale's appointment.

"His experience will be valuable as the business enters a period of sustained growth, including the franchising of further retail outlets and expanding the range of superior audio visual products distributed in New Zealand."

"Other opportunities being explored by the board include consumer finance and a specialist trade-in and seconds store."

At present Eastern Hi Fi's international partners include Denon, Arcam, Music Fidelity, Polkaudio, Kef, Straight Wire and Tannoy.

In addition to supplying other leading quality audio visual retailers, Eastern Hi Fi has six of its own retail outlets.

It also operates a specialist division custom designing and installing home theatre and audio systems.

The other directors of Eastern Hi Fi are founder and managing director Steve Allbury and chartered accountant Paul Forsyth.

ENDS

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