Infratil named Mark Tume as acting chairman after announcing yesterday that David Newman had taken medical leave. Tume has been an independent director of Infratil since 2007 and is chairman of its audit and risk committee. Fellow director Paul Gough will now chair the committee, the company said. Newman, who has been chair since 2004, is also taking a leave …

OceanaGold Corp, the worst performing stock on New Zealand’s benchmark index this year, has agreed to acquire all the shares in Canadian gold miner Pacific Rim Mining Corp that it doesn’t already own in a deal valued at C$10.2 million. OceanaGold is offering 0.04006 of its shares for each Pacific Rim share, which would see it issue some 6.76 million …

Motor Trade Finance, which has a lending book of about $460 million, said it intends to appeal a High Court judgement that some fees in its loan contracts were unreasonable. “Motor Trade Finance is disappointed with the decision that some fees were considered unreasonable and considers that the court’s narrow basis for that finding does not recognise normal commercial practice,” …