Shareholders send Fonterra back to drawing board

Article – BusinessDesk

Fonterra Cooperative Group says it will consider amending constitutional changes that would allow it to shrink its board and adopt a new system for electing farmer directors after failing to win support for the measures at a special meeting of shareholders. Read more »

NZ shares fall as Spark threatened by Sky TV-Vodafone tie-up

Article – BusinessDesk

June 8 (BusinessDesk) – New Zealand shares fell, led by Spark New Zealand on concern it will face a stronger rival if talks between Sky Network Television and Vodafone Group result in a formal alliance. SkyCity Casino Group rose after completing its … Read more »

David Flacks Appointed Chair of Harmoney Board

Press Release – Harmoney

Peer-to-peer lending marketplace Harmoney has appointed current director David Flacks as its Chair, and Stuart McLean will join the board as a director. Mr Flacks was initially appointed an independent director of the Harmoney board in May 2014. He … Read more »

Kathmandu sues biggest shareholder

Article – BusinessDesk

June 8 (BusinessDesk) – Kathmandu Holdings is suing its biggest shareholder, Briscoe Group, in an effort to recoup what it spent fending off the rival retailer’s failed takeover attempt. Read more »

Institutions pay small premium to mop up remaining shares

Article – BusinessDesk

June 8 (BusinessDesk) – Institutional investors have paid a small premium to mop up remaining SkyCity Entertainment Group shares that weren’t taken up in the casino company’s one-for-10, $263 million capital raising. Read more »

Graeme Hart’s UCI Holdings files for bankruptcy protection

Article – BusinessDesk

June 3 (BusinessDesk) – New Zealand billionaire Graeme Hart’s UCI Holdings auto parts business has filed for bankruptcy protection in the United States as it looks to restructure. Read more »

G3 Group’s major shareholders likely to sell down

Article – BusinessDesk

June 1 (BusinessDesk) – The biggest shareholders in G3 Group are likely to sell some of their holdings when restrictions lift in November putting the NXT-listed mail operations and document manager back in compliance with listing rules if it hasn’t … Read more »

Global mobile marketer VMob oversubscribed

Article – BusinessDesk

May 31 (BusinessDesk) – Australian and New Zealand high net worth investors and institutions have stumped up $3.3 million to help mobile marketing platform VMob pursue offshore expansion, particularly in the US. Read more »

NZ dollar falls as ascendant greenback fanned

Article – BusinessDesk

May 30 (BusinessDesk) – The New Zealand dollar fell after comments by Federal Reserve chair Janet Yellen added to expectations US interest rates will rise sooner rather than later, encouraging the flow of funds back to the greenback from currencies where … Read more »

NZX toughens enquiry process

Article – BusinessDesk

May 26 (BusinessDesk) – New Zealand’s stock exchange operator, NZX, is to start making confidential enquiries of listed companies that experience large, unexplained share price movements, to determine whether they may be holding undisclosed “material” … Read more »

FMA Announcement

Press Release – Silver Fern Farms

FMA completes consideration of complaints and finds they do not have any reason to believe the [Notice of Meeting and Shareholder] Information Pack was misleading or deceptive Read more »

Pyne Gould finally lodges 2015 annual report

Article – BusinessDesk

May 24 (BusinessDesk) – Pyne Gould Corp, whose NZX-listed shares have been suspended from trading since October, has lodged its 2015 annual report after a lengthy delay which has been blamed on switching auditors. Read more »

Underwritten Share Purchase Plan

Press Release – Chatham Rock Phosphate

As previously announced, Chatham Rock Phosphate Limited (NZX: CRP) intends to undertake a share purchase plan ( SPP ) offer of ordinary shares ( Shares ). Read more »

Market wobbles dent confidence but investors are positive

Press Release – Financial Markets Authority

Confidence in New Zealands markets fell slightly in the last 12 months to 56% this year from 60% in 2015, following a year of uncertainty and turmoil in the markets. Confidence is higher among investors, with 59% of those with investments expressing … Read more »

Shares in gold prospector tumble on rights issue

Article – BusinessDesk

May 17 (BusinessDesk) – New Talisman Goldmines shares dropped 47% after the Coromandel gold prospecting company announced a rights issue to raise up to $12.2 million dollars. Read more »

Livestock Improvement flags proposal to split into two

Press Release – BusinessDesk

May 16 (BusinessDesk) – Livestock Improvement Corp, the farmer-owned cooperative that focuses on dairy herd genetics, farm software and automation, has proposed splitting into two businesses and allowing outside shareholders to invest for the first time. Read more »

APN, NZME likely to be more attractive takeover targets

Article – BusinessDesk

May 11 (BusinessDesk) – APN News & Media and its NZME unit in New Zealand would become more attractive takeover targets after demerging and the split wouldn’t result in markedly weaker balance sheets, according to an independent evaluation by Deloitte. Read more »

MARKET CLOSE: NZX 50 rises to record high

Article – BusinessDesk

May 10 (BusinessDesk) – New Zealand shares rose, pushing the S&P/NZX 50 Index to a record high as Air New Zealand and A2 Milk gained while Sky Network Television extended its slide. Read more »

APN shares halted for potential material announcement

Article – BusinessDesk

May 9 (BusinessDesk) – APN News & Media, which abandoned plans for an initial public offering of its NZME division in February, had its shares halted on the ASX pending an announcement about a potential material transaction involving the New Zealand … Read more »

Forecasts for grain exchange ‘no unrealistic': Paviour-Smith

Article – BusinessDesk

May 6 (BusinessDesk) – NZX director and Forsyth Barr managing director Neil Paviour-Smith rejected Ralec’s claims in the High Court that earnout targets which would have netted the former owners of the Clear Grain Exchange A$7 million were unrealistic. Read more »

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