NZ RegCo and Precinct fail the transparency test

Jenny Ruth
Tue, 30 Mar 2021

Precinct Properties chair Craig Stobo.
Jenny Ruth
Tue, 30 Mar 2021
NZX's new regulatory arm isn't four months old yet but it has just visited a poor decision on Precinct Properties' shareholders.NZ RegCo has said Precinct doesn't have to seek shareholder approval for the $215 million purchase of the company's management contract, which is currently owned by a joint venture between AMP and the Abu Dhabi Investment Authority, AMP Haumi Management (AHML).This is the first time New Zealand investors won't get to vote on a transaction of this nature.There is certainly an argument, and Precin...

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