Foreign Minister Winston Peters leaves for Egypt on Saturday and then on to Europe for a range of meetings.
In Egypt Peters will meet Egyptian Foreign Minister Sameh Shoukry and Arab League secretary-general Ahmed Aboul-Gait. He then goes on to Warsaw to meet Polish Foreign Minister Radoslaw Sikorski before attending the Nato foreign ministers’ meeting in Brussels. His final stop is Stockholm where he will meet Swedish Foreign Minister Tobias Billstrom.
“This travel will focus on a range of New Zealand’s traditional diplomatic and security partnerships while enabling broad engagement on the urgent situation in Gaza,” Peters said.
He said New Zealand was part of an overwhelming international consensus demanding a ceasefire in Gaza and the trip would allow New Zealand to share information and perspectives with a range of interested parties and coordinate broad international action.
Contact Energy says its $920 million Tauhara geothermal plant could be online for this winter, after completing remedial work that forced a delay in commissioning.
In a statement to the NZX, Contact said it was sticking to its expectation the plant east of Taupo could begin commercial operations in the three months to September.
“Contact maintains its expectation that Tauhara will be online at an initial capacity of at least 152MW in Q3 2024 and notes that a range of timing outcomes within the quarter remain possible,” it said.
“This reflects the potential discovery of latent commissioning issues in the next stage of power station testing, as can be expected during commissioning. Within that context, this progress announcement seeks to highlight the possibility that Tauhara could be online for winter 2024.”
The government has halted the Kermadec Ocean Sanctuary project, scrapping the Bill meant to establish a 620,000 square kilometre protected area. Oceans and Fisheries Minister Shane Jones said turning the current 12 nautical mile marine reserve around the Kermadec Islands into a no-go zone is unnecessary for conservation and detrimental to local livelihoods, including iwi with fishing quotas from a 1992 treaty.
Iwi leaders voted to reject the establishment of the proposed Kermadec Ocean Sanctuary at a special general meeting, hosted by Te Ohu Kaimoana in Wellington last June.
The decision to scrap the sanctuary aligns with the Government’s aim for export-led growth by using national resources.
“I am confident that the Kermadec Islands, which already have in place a protected marine environment, will continue to flourish without the further expansion of the reserve,” said Minister for the Environment Penny Simonds.
Former Forsyth Barr director Shane Edmond has been appointed permanent chair of Reefton Distilling Company after a period of alternating chairs since August last year.
The company’s other director is Martin Smith.
The gin and whisky maker’s founder Patsy Bass stepped down from the board in April 2020 to serve as chief executive.
Edmond was previously head of retail broking at Forsyth Barr and retired from the firm in December.
NZX-listed Cannasouth has extended its trading halt until April 2, as it has not yet resolved a dispute with its secured note holders.
Trading in the medicinal cannabis company’s shares were suspended on Tuesday because the stoush had the potential to “prejudice an urgent additional capital raise” it was hoping to finalise to ensure the firm remained solvent.
It was due to lift this morning but in a brief note the company said discussions were still ongoing.
“CBD is also engaged in discussions with third parties about providing additional short-term funding and is exploring restructuring options,” it said.
These “additional discussions” were due to conclude next Tuesday, it said.
Cannasouth raised $2.1m by way of a wholesale secured convertible note offer late last year, which paid investors 15% interest over a two-year term.
About $1m came from non-executive director Mark Scapens, non-executive company chair Tony Ho, and now former independent director Hilary Webber.
Spark is undertaking another on-market share buyback to complete the return of up to $350 million to shareholders as a result of the partial sale of its ‘TowerCo’ business to the Ontario Teachers’ Pension Plan in 2022.
The new buyback programme will commence on April 8.
Spark will have already returned approximately $305m by the end of March via its initial buyback.
The maximum number of ordinary shares that may be acquired pursuant to the new buyback programme over the next 12 months is 33,659,451 shares, which represents 5% of the total shares on issue as at the date a year prior to its commencement, less the shares acquired under the initial buyback during the year.
The company said it reserved the right to vary, suspend without notice, or terminate the new buyback programme at any time, and will “continue to assess market conditions, its prevailing share price, available investment opportunities, and all other relevant considerations”.
Auckland Airport chair Patrick Strange will retire from the board at the end of the company’s annual shareholders’ meeting in October this year.
Strange joined the board in 2015 and has held the title of chair since 2018. In announcing his retirement he noted the company’s policy that directors should serve nine years.
Julia Hoare will succeed him as chair. She has been on the board since 2017 and is currently also chair of Port of Tauranga and an independent director of Meridian Energy and Comvita.
“We have managed through the challenges of Covid and the subsequent recovery,” said Strange.
“And now the long overdue reinvestment in a major infrastructure upgrade at the Auckland Airport is under way. The board and company are in excellent shape, and this will be an appropriate time to hand over the reins.”
SkyCity chief financial officer Julie Amey has resigned and will leave the casino operator on September 25.
Amey joined SkyCity from Shell Australia in May 2021.
SkyCity’s interim CEO Callum Mallet said Amey had managed the company’s finances during a complex period.
“She has worked tirelessly and been a valued member of the senior leadership team since she joined SkyCity,” he said.
The company gave no reason for her resignation.