New Image chairman buys Huljich stake, increasing his majority control

Thu, 25 Oct 2012

Oct. 25 (BusinessDesk) - New Image Group's chairman Graeme Clegg is buying the 10.1 percent stake in the company held by HWM (NZ), formerly known as Huljich Wealth Management, in two steps to avoid having to make a full takeover of the colostrum-based health tonic maker. The purchase disclosed in a substantial shareholder notice comes after the company reported first quarter earnings this week which propelled its share price higher. Clegg, who already held 58.33 percent of the company, is paying $6.1 million, or 26 cents a share, in two equa...

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