The Hill Family, which is already Michael Hill International's biggest single shareholder, is seeking majority ownership of the company.The family told the NZX it wished to consolidate its holdings, which have been held in various family trusts, into a si
The Hill Family, which is already Michael Hill International’s biggest single shareholder, is seeking majority ownership of the company.
The family told the NZX it wished to consolidate its holdings, which have been held in various family trusts, into a single entity. Together the interests represent a 48% stake.
Following the consolidation, the family said it wanted to increase is holding to about 50.1%.
This will require shareholder approval for the purposes of the Takeovers Code and the family requested that the issue be put to the annual meeting on November 5.
If approved by shareholders, the family will look to increase their percentage voting control in the company by acquiring shares on market.
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