Asset sales loyalty scheme will cost taxpayers unknown sum

Mon, 23 Jul 2012

July 23 (BusinessDesk) - The proposed loyalty scheme for retail investors who hold onto shares in part-privatised power companies will reduce the government's take from its asset sales programme by an unspecified sum. While details of the scheme are unresolved, Prime Minister John Key told his post-Cabinet press conference this afternoon that it was "likely that a portion of the 49 percent (of the company to be offered to private investors) will apply to the loyalty scheme." The alternative would be to issue new shares, effectively diluting t...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Opinion
No-nonsense words for fund managers
David Chaplin | Wed, 18 May 2022

The Financial Markets Authority will pay closer attention the practice of bundling up advice fees and trail commissions within products and the use of cash rate-based performance indexes. 

Markets Market close
NZ shares slide on recession risk
Dan Brunskill | Tue, 17 May 2022

Central banks are expected to rapidly tighten policy, the risk of an energy crisis in Europe remains, and economic activity in China has been slowing.

Markets
BitPrime calls on crypto community for cash
Dan Brunskill | Tue, 17 May 2022

The crypto retailers plan to create a decentralised autonomous organisation to give supporters a say in how the business is run. 

Sponsored
Grow your business by taking time to plan

Getting business fundamentals right gives the best chance at beating the unplannable.

Partner content
More fuel storage needed now

Boosting fuel reserves could prevent social & economic disruption.