New Zealand Experience Ltd, operator of the Rainbow's End theme park, is for sale after a 74.86 percent shareholder signalled a desire to exit.The estate of George Ryerson Gardiner, which holds 27.7 million shares, today informed NZ Experience that it wan
New Zealand Experience Ltd, operator of the Rainbow's End theme park, is for sale after a 74.86 percent shareholder signalled a desire to exit.
The estate of George Ryerson Gardiner, which holds 27.7 million shares, today informed NZ Experience that it wants a process begun to seek expressions of interest for these shares.
The trustees asked the company's directors to assist and the directors agreed, while continuing to act in the interests of all shareholders.
It is likely that expressions of interest will be sought for all of the company's shares on issue.
The process is not expected to be immediate and directors are seeking external advice on the issue.
The company reported an net profit of $572,000 for the six months to December 31 2009, marginally down on the same period in the prior year, and did not pay an interim dividend.
