KMD's shares plunged 46% to 6.1 cents after market open.
Move follows failure to comply with performance obligations in contract, says infant formula marketer.
The Shareholders’ Association is concerned with the company’s ‘unusual arrangement’ with its controlling shareholder, Thomas Brankin.
But managing director Rod Duke has confidence going into the group’s second half and would not dial back inventory orders ahead of Christmas.
Co-founder and major shareholder is buying out 30% holding of fellow co-founder who quit last year.
Transaction builds iwi-owned Moana to largest inshore fishing company in New Zealand.
NBR Lister takes some profits for estate planning and to start a family charitable foundation trust.
Problem affecting ‘geared turbo-fan’ not a safety issue, says manufacturer.
Two largest shareholders elect not to participate.
Shareholders need to approve buyout of disgruntled major shareholder at annual meeting later this month.