Tag Archives: Companies

Shares in Abano Healthcare climbed to a four-month high after the specialty health clinic investor said it had batted away an unsolicited proposal from an unnamed party alongside director Peter Hutson, and now faces a potential takeover bid. The stock jumped 11 percent to $6.51 after the Auckland-based company said it received and rejected an unsolicited non-binding indicative offer north …

Abano Healthcare, which last week reported a 75 percent jump in annual profit, faces a takeover bid after turning down an offer north of its current $100.2 million market price from an unnamed party alongside director Peter Hutson. The Auckland-based company received and rejected an unsolicited non-binding indicative offer from a third party seeking to invest and operate in the …

Property For Industry, whose shares have gained 14 percent this year, is looking expensive compared to its peers, according to brokerage Craigs Investment Partners which cut its recommendation to ‘sell’ from ‘hold’. Property For Industry almost doubled in size following a July 1 merger with Direct Property Fund. The company yesterday posted its last earnings before the merger, showing an …

Argosy Property, which recently bought two Wellington commercial properties, has raised $86.9 million in a rights issue and bookbuild to repay bank debt taken on for its recent acquisitions. The Auckland-based company sold 87.2 million shares at 89 cents apiece, or $77.6 million, to shareholders who exercised their rights in a 1-for-7 pro-rata renounceable offer, it said in a statement. …

MetService, the nation’s state-owned weather forecaster, paid $3 million for a 49 percent stake in privately owned New Zealand oceanographic consultancy MetOcean Solutions, giving it a foothold in a market worth more than $10 million. The purchase will allow Wellington-based MetService to expand its research capability and add customised oceanographic forecasting and consultancy expertise to its global offering. For MetOcean, …

Diligent Board Member Services, the governance app maker hit by a slew of administrative mis-steps, will restate how it has recognised revenue over the past three financial years, delaying publication of second-quarter trading, which it says will show slowing sales in the US. The New York-based company will restate financial statements for the 2010, 2011, 2012 financial years and the …

Postie Plus Group, the beleaguered clothing retailer, has appointed No 1 Shoes executive Richard Binns as its new chief executive. Binns will join the retailer on Sept. 16, replacing long-serving Ron Boskell who departed in January. He was previously general manager operations at Hellaby Holdings-owned No 1 Shoes, chief operating officer at Overland, and head of general merchandise at Warehouse …

Property for Industry, which doubled in size following a merger, posted an 8.8 percent increase in first-half rental income and said profit was lifted by non-cash valuation changes and a smaller tax bill. Profit rose to $11.87 million in the six months ended June 30, from $7 million a year earlier, the Auckland-based company said in a statement. Sales rose …

New Zealand shares rose as Fisher & Paykel Healthcare benefited from a rival’s record earnings and investors pushed up market leaders Fletcher Building, Chorus and Telecom. The NZX Index rose 37.124 points, or 0.8 percent, to 4582.891. Within the index, 22 stocks rose, 12 fell and 16 were unchanged. Turnover was $100.9 million. F&P Healthcare rose 2.6 percent to $3.62 …

Bathurst Resources intends to oppose an application to the Court of Appeal by the Royal Forest & Bird Protection Society of New Zealand for special leave to appeal a decision related to Bathurst’s plan to mine for coal on the South Island’s West Coast. In June, the High Court rejected Forest & Bird’s application for leave to appeal a decision …