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...

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Asset sales loyalty scheme will cost taxpayers unknown sum

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