ACC buys up $6.7 million worth of Tourism Holdings shares, after previously selling down.
Investment house Forsyth Barr has given the retirement operator the thumbs up, saying economic fundamentals and company’s ‘maturing’ Australian business are key to its growth.
Shareholders overwhelmingly approve $130m emergency related party loan, but next step is capital raise in the hundreds of millions.
Analysts also forecast the Kiwi retailer to hit pause on dividends until later in FY25.
Decision means $130m loan from 39% shareholder Bright Dairy likely to be approved, averting milk processor's receivership.
More than three months after being tapped by Fletcher’s recruitment consultants Cairns had not heard back from the company.
Vote to approve ‘lifeline’ $130m loan could get over the line without A2 Milk’s support, but would require strong turnout from remaining shareholders.
Company says shareholders can expect an improved dividend as increased generation comes on stream , though that's diluted by spending on its Wairakei replacement project.
The NZX-listed milk processor faces receivership if special meeting vote does not approve $130m shareholder loan from Bright Dairy.
It may be ‘back to basics’ for port operations, but it’s not cheap as the country’s second-busiest port looks to secure $1.1b in profits over the next decade.