A2 Milk chair reluctantly sells shares to cover tax bill

A2 Milk chair reluctantly sells shares to cover tax bill
Rebecca Howard
A2 Milk chair David Hearn reluctantly sold $37.2 million of stock in the company to meet a British tax bill he'd have to pay for exercising the five-year-old options.  Hearn exercised 3.1 million options at 63 cents a piece, or $1.95 million, before they expired on June 30. Those 3.1 million shares would've been worth $61.07 million at the April 24 closing price - the day Hearn exercised the options - however as a UK tax resident, his liability came when they were exercised, rather than when they vested back in 2015.  A2 said Hearn's tax...

More Markets

Meridian reports increased sales and higher prices
Markets

Meridian reports increased sales and higher prices

Net profit after tax was $ 191 million, $10m or 5% down on the same period last year.

Spark reports profit drop of 4.8%
Markets

Spark reports profit drop of 4.8%

But telco has reaffirmed its full-year guidance. 

PGG Wrightson CEO: OCR hike would hurt rural sector confidence
Finance

PGG Wrightson CEO: OCR hike would hurt rural sector confidence

The company suspended its interim dividend, worrying about adding debt if rates go up.

NZ stocks ease while speculation swirls around Fletcher Building
Markets Market close

NZ stocks ease while speculation swirls around Fletcher Building

The S&P/NZX50 index ended at 11,694.60, down 15.29 points.

Jamie Gray 27 Feb 2024