Tag Archives: Companies

Initial shareholders of SLI Systems, the search engine developer, have sold 6.8 percent of the company at the end of a 16-month lock-up period at 23 percent below last year’s offer price. The shareholders sold some 4.2 million of the 40.1 million locked-up shares at $1.15 apiece yesterday, the Christchurch-based software developer said in a statement. That’s below the $1.50 price the shares sold at …

 Shares of electricity generators and retailers soared, lifting the benchmark NZX 50 Index, after the National Party’s convincing election victory on the weekend wiped out any regulatory fears for the power companies.  The NZX 50 rose 69.288 points, or 1.3 percent, to 5,250.633 at the open today after the Sept. 20 general election delivered the incumbent National Party the ability …

Pumpkin Patch has continued to refresh its board, with chair Jane Freeman the latest to announce her departure, as the childrenswear chain tries to revive falling sales in a changing retail environment. Peter Schuyt, who has been an independent non-executive director since 2012, will take over from Freeman at the start of next month, while former Warehouse Group executive Luke Bunt will …

Pacific Edge, the non-invasive bladder cancer test maker, has appointed former McKinsey & Co consultant Charles Sitch to its board. Sitch will join the Dunedin-based company’s board on Nov. 1 as an independent director, Pacific Edge said in a statement. Sitch is also a director of Spark New Zealand, and was previously a senior director at McKinsey, working with executives …

Pyne Could Corp, the asset management firm controlled by George Kerr, is seeking the removal of two directors of Equity Partners Infrastructure Company No.1, as it looks to boost its stake to almost half. Pyne Gould wants to raise its stake to 49 percent from the 27 percent of the investment company it already holds, the Guernsey-based company said in a statement. At the …

Warehouse Group faces a year of reckoning as investors await evidence that New Zealand’s largest listed retailer will get a return on the hundreds of millions of dollars spent overhauling stores and buying new businesses in the past couple of years. Under chief executive Mark Powell, Warehouse has outlaid $115.8 million in capital expenditure on its iconic ‘red shed’ general merchandise …

Seniors Money International, which sold its ‘home equity release’ mortgage business to Heartland New Zealand for $87 million this year, would sell the 9.4 percent stake it got in the lender as part payment once a 12-month lock-up ends for the shares. Auckland-based Seniors, which counts buyout firm Quadrant Private Equity as its biggest shareholder, got $47.3 million cash and 43 …

Berry company OOB has sealed two deals with Shanghai-based companies to sell its organic ice-cream. The first deal is a one-year, ten-container, contract with retailer Li Feng which has already been trialling the ice-cream product for some stores. It plans to stock the ice-cream in 200 stores across Shanghai. The other deal is with a confectionary gift retailer which has 700 …

Infratil shares rose to the highest in more than six years on the prospect of a capital return after the A$605 million sale of its Australian energy operations, which will generate a $44 million fee for manager HRL Morrison and Co. The Wellington-based company sold Lumo Energy and Direct Connect Australia after reviewing its ownership of the assets in May, …

Irish media group Independent News & Media is backing the board of APN News & Media to grow shareholder value, as the Australasian publisher and broadcaster considers carving out its New Zealand unit. The Dublin-based company, which is controlled by Irish billionaire Dennis O’Brien, will support any moves by APN to increase the value of its 18.6 percent stake in the trans-Tasman …