Manji Family increases Snakk Media stake to 17%, becoming biggest shareholder

Tue, 02 May 2017

By Jonathan Underhill May 3 (BusinessDesk) - A family trust associated with Raf Manji, the Christchurch City councillor challenging Gerry Brownlee for the seat of Ilam at the next election, has become the largest shareholder in Snakk Media after buying new shares to top up the company's working capital. The Manji Family Trust will buy 550,000 shares at 20 cents apiece, raising $110,000 and lifting its holding to 17 percent from 13.3 percent. The price is more than double the 9 cents level the stock last traded at on the NZX's NXT market....

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