Marlborough Lines Ltd has increased its holding in Horizon Energy Distribution Ltd to 11.41%, according to a substantial shareholding notice filed to NZX.Marlborough Lines purchased 10.% of Horizon Energy last month via a stand in the market at $4.06 a sh
Marlborough Lines Ltd has increased its holding in Horizon Energy Distribution Ltd to 11.41%, according to a substantial shareholding notice filed to NZX.
Marlborough Lines purchased 10.% of Horizon Energy last month via a stand in the market at $4.06 a share then instructed First NZ Capital Securities Ltd to acquire up to another %. The purchases are being be made via a special order facility.
Horizon Energy is 77.3 percent owned by Eastern Bay Energy Trust, which would like to move to 100 percent ownership.
Marlborough Lines failed in a partial bid for the Whakatane-based electricity network operator last year.
Marlborough Lines owns a half share in Nelson Electricity and 51 percent of OtagoNet.
Eastern Bay Energy Trust has expressed disappointment that Marlborough Lines is continuing to pursue Horizon Energy.
