Tag Archives: Companies

The New Zealand Superannuation Fund has excluded seven companies with operations in nuclear bases from its $22 billion portfolio, while clearing the return for four firms which had previously been excluded for their involvement in cluster munitions. The Cullen Fund, so-called for its architect former Finance Minister Michael Cullen, will exclude public companies Babcock & Wilcox, Fluor Corp, Huntington Ingalls …

Dorchester Pacific has raised $4.1 million in a placement to institutions, with two major shareholders taking up an offer to sell down their own holdings in a secondary pool. At total of 35 million shares were sold at 25 cents apiece to institutional investors, the financial services company said in a statement. That was made up of 16.3 million of …

TeamTalk, the owner of the CityLink fibre-optic broadband service, cut earnings guidance for a second time and is reviewing its management structure to try to bed in its Farmside Group acquisition. The Wellington-based company expects second-half earnings before interest, tax depreciation and amortisation a “little lower” than $5.14 million, having previously flagged a “modest lift,” it said in a statement. …

Cooks Food Group, a shell company whose shares haven’t traded the past four months, agreed to buy the franchise rights for Esquires Coffee Houses in many parts of the world. Cooks, which aims to become a global retail and supply chain business aligned with Esquires, agreed to pay Esquires founders Stuart and Lewis Deeks $300,000 in cash and an undisclosed …

Livestock Improvement Corp, which helped China’s Agria take control of PGG Wrightson in 2011 with a $10 million loan, is now providing its chief executive to run the New Zealand rural services company. Wrightson today named LIC’s Mark Dewdney as chief executive after George Gould resigned. He will take up the position starting on July 1. He ran LIC, a …

Diligent Board Member Services plans to offer an additional US$6.7 million of performance-related cash, shares and options to its chief executive after its earlier bonus scheme fell afoul of regulations. CEO Alessandro Sodi will be offered 4.1 million units over five years, worth an estimated US$29.1 million, replacing an earlier package worth US$22.4 million, the New York based company said …

Heartland New Zealand shares rose to a two-year high and its credit rating was affirmed by Standard & Poor’s after the lender decided to take over the management of distressed assets and wear the cost upfront. The shares jumped 7.6 percent to 85 cents, the highest level since February 2011, after the Christchurch-based bank cut its annual profit guidance to …

Dorchester Pacific investors have exercised more options than the financial services firm was expecting and it has asked major shareholders whether they are willing to sell down their stakes in a placement. About 134 million options were converted to shares at 12.5 cents apiece, or $16.75 million, out of a total 150 million, Dorchester said in a statement. That was …

Heartland New Zealand, which gained bank registration in December, has cut its earnings expectations after deciding to take the management of distressed assets in-house. It was more upbeat about growth in 2014. The Christchurch-based lender expects net profit of $7 million in the 12 months ending June 30 after taking an $18 million charge on writing down the value of …

Snakk Media, which aggregates publishers’ ad space on mobile devices and matches it to advertisers’ demand, boosted annual sales 83 percent and is on the prowl for investment opportunities with its new $6.5 million war chest. Sales rose to $3.65 million in the 12 months ended March 31 from $1.99 million a year earlier, the Auckland-based company said in a …