However, the market has been warned against pre-Christmas trading assumptions.
Corporate denizen Graham Stuart gets a resounding ‘no’ to his re-election after the board scuppers a bid from majority shareholders for the company.
Board member and Ngai Tahu CEO Craig Ellison appointed interim CEO.
Company had hoped to update shareholders on strategic partnership opportunities at today’s AGM, but couldn’t.
Co-founders Eugene Williams and David Sena strike a deal over 30% holding.
Transport heavyweight held annual meeting in Auckland this afternoon, revealing broad weakness in June quarter.
UPDATE: Almost 18% of shareholders vote against re-election of interim chair Claire Higgins.
Pacific International Insurance is fully owned by South African insurer Badger International.
Cyclone Gabrielle wrecked key factory, leaving 130 workers now facing voluntary redundancies or redeployment to Whanganui.
The deal brings the Kiwi concern closer to the coveted UK market; will not disrupt its cost-out programme.