PGC to continue share buybacks; Torchlight audit still going

Wed, 17 Dec 2014

By Paul McBeth Dec. 17 (BusinessDesk) - Pyne Gould Corp, which is controlled by managing director George Kerr, will keep on buying back shares as it looks to narrow the shortfall from its net tangible asset value, and said it expects the audit of its Torchlight investment should be done before it releases its first-half earnings. Chairman Bryan Mogridge told shareholders in Auckland the firm will continue with its planned share buyback to make up the difference between its share price - up 5.1 percent to 41 cents - and its net tangible as...

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