Comvita shareholders exercise 5.6M of 6.9M rights on offer

Article – BusinessDesk

Dec. 16 (BusinessDesk) – Comvita said shareholders exercised 5.6 million of the 6.9 million of rights under its 1 for 5 offer, and the remainder will now be offered to other investors under a shortfall bookbuild. Read more »

Goodman sells Enterprise Park in Wiri for $53.2 million

Article – BusinessDesk

Dec. 16 (BusinessDesk) – Goodman Property Trust, New Zealand’s largest listed property investor by market value, has sold Enterprise Park in Wiri for $53.2 million to an undisclosed buyer. Read more »

Tower talks down impact of Supreme Court valuation ruling

Article – BusinessDesk

Dec. 16 (BusinessDesk) – Tower, the insurer which sold its health, life, and investment units to focus on general insurance, has talked down yesterday’s Supreme Court ruling on how to value the replacement costs of a house, saying it doesn’t expect a material … Read more »

MARKET CLOSE: NZ shares drop in global sell-off; Xero falls

Article – BusinessDesk

Dec. 15 (BusinessDesk) – New Zealand shares fell in a global sell-off, paced by Xero, Westpac Banking Corp and Meridian Energy as falling oil and dairy prices and a hostage situation in Sydney weighed on investors. Read more »

Results of Special Meeting relating to Corporatisation

Press Release – Kiwi Income Property Trust

Kiwi Income Property Trust is pleased to announce that Unit Holders today overwhelmingly approved resolutions to effect the corporatisation of the Trust. Read more »

Brisbane Welcomes Burgerfuel

Press Release – BurgerFuel

Brisbane burger lovers are celebrating a long awaited day today, as BurgerFuel opens the doors to their first restaurant in Queenslands capital city. The opening of the franchised restaurant marks the second major territory for BurgerFuel in Australia, … Read more »

University of Canterbury settles earthquake insurance claim

Article – BusinessDesk

Dec. 15 (BusinessDesk) – The University of Canterbury can claim $550 million to cover the damage wrought by the series of earthquakes in 2010 and 2011 after reaching an agreement with its insurers. Read more »

Trustpower committed to Australian renewables projects

Article – BusinessDesk

Dec. 15 (BusinessDesk) – Tauranga-based electricity company Trustpower says it remains committed to its renewable energy projects in Australia, in spite of the uncertainty created by the review of the Renewable Energy Targets policy by the federal government. Read more »

KIP unitholders overwhelmingly approve corporatisation

Article – BusinessDesk

Dec. 15 (BusinessDesk) – Kiwi Income Property Trust unitholders have overwhelmingly voted in favour of corporatisation, completing a year-long transformation that saw the property trust taking management in house by buying out Commonwealth Bank of … Read more »

NZ dollar: Declining interest to hedge amongst importers

Press Release – ASB Bank

The latest ASB Kiwi Dollar Barometer finds businesses are fairly confident the NZD has peaked and will continue to decline gradually over the year ahead. ASB Chief Economist Nick Tuffley says that regardless of business size or type, there is a … Read more »

Cooks Foods widens 1H loss after buying Canadian rights

Article – BusinessDesk

Dec. 15 (BusinessDesk) – Cooks Global Foods widened its first-half loss after buying the Canadian franchise rights to Esquires Coffee Houses, completing its ownership of the brand outside New Zealand and Australia, and spending more to expand its global … Read more »

Fonterra Shareholders Council largely backs milk supply plan

Article – BusinessDesk

Dec. 12 (BusinessDesk) – The Fonterra Shareholders Council is broadly supportive of plans for the cooperative to start sourcing milk from South Island suppliers who are not also shareholders, with a couple of caveats. Read more »

MARKET CLOSE: NZ shares rise; Z Energy gains

Article – BusinessDesk

Dec. 12 (BusinessDesk) – New Zealand shares rose, paced by Z Energy as falling oil prices reduced its input costs. Chorus, the network operator, extended gains on the prospect of charging more for its copper lines. Read more »

Lateral posts 1H loss of $634K after August listing

Article – BusinessDesk

Dec. 12 (BusinessDesk) – Lateral Corp, the mobile technology developer, posted a first-half loss in its first earnings result since listing on the NZX Alternative Index in August, and has launched a capital raising programe to fund customer acquisition … Read more »

Chatham Rock consent decision due in January

Article – BusinessDesk

Dec. 12 (BusinessDesk) – The Environmental Protection Agency’s decision-making committee considering the consent for would-be phosphate miner Chatham Rock Phosphate has closed its hearing, and is expected to make a ruling on the project next month. Read more »

IT company Fronde falls into the red with dip in govt work

Article – BusinessDesk

Dec. 12 (BusinessDesk) – Fronde, which provides IT services to businesses, has had to shed staff and cut other costs after dropping into the red with a much lower-than-expected first-half result due to decreased revenue from its Wellington consulting business. Read more »

Chatham Rock Phosphate marine consent decision due by 30 Jan

Press Release – Chatham Rock Phosphate

A decision on Chatham Rock Phosphates marine consent application is expected to be announced on or before 30 January 2015. The Decision-making Committee hearing CRPs application today officially closed the hearing. Once closed the DMC has … Read more »

Precinct sets interest rate on $75M of bonds at 5.54%

Article – BusinessDesk

Dec. 12 (BusinessDesk) – Precinct Properties New Zealand, which has increasingly been focusing on Auckland office space, has set the interest rate for its $75 million bond issue, which it will use to repay bank debt. Read more »

Mowbray to sell its stamp and coins businesses

Article – BusinessDesk

Dec. 12 (BusinessDesk) – Mowbray Collectables, the unprofitable listed auction house business, has put its stamp, coin and bank note trading businesses up for sale in a bid to enhance shareholder value and reposition the company. Read more »

Rakon sells UK property, shifts more manufacturing to NZ

Article – BusinessDesk

Dec. 12 (BusinessDesk) – Rakon, the high-tech components manufacturer, has sold its Lincoln, UK plant for 900,000 British pounds, most of which will go into repaying debt, as part of a plan to send more manufacturing work back to New Zealand. Read more »

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