Dorchester shareholders asked to sign off on early conversion of notes, director fee hike

Thu, 08 Aug 2013

By Paul McBeth Aug 8 (BusinessDesk) - Shareholders of Dorchester Pacific will be asked at this month’s annual meeting to allow an early conversion of notes giving the Business Bakery and Hugh Green Investments control of the financial services firm, sign off on a 20 percent hike in the pool for directors’ fees, and grant the chief executive a loan to buy shares. The Auckland-based firm, which avoided failure in 2010 by convincing investors to accept a debt-for-equity swap, will ask shareholders at its Aug. 23 meeting to okay an early conver...

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