LIC farmer-owners to get slice of $18.5m National Milk Records sale

(Image: LIC)

Fri, 26 Jan 2024

Livestock Improvement Corporation’s farmer-shareholders are set to get a slice of proceeds from the sale of the co-operative’s English business.Seven years ago, Livestock Improvement Corporation (LIC) upped its stake in National Milk Records (NMR) from 2.6% after agreeing to subscribe for shares to allow the UK farm management recording services fund its exit from a pension fund.It saw LIC purchase 4 million shares at 65 pence apiece or £2.6m (NZ$5.4m, at today's exchange rates).However, last year, the New Zealan...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Markets Market Close

NZ sharemarket rises as Trump backs down

The S&P/NZX 50 Index closed up 1.01% or 119.78 points.

Tom Raynel 5:59pm

Economy

‘Uncertainty abounds’: Willis on trade war challenges

The impacts for NZ are twofold and will make its economic recovery harder, Willis says.

Rebecca Howard 4:40pm

‘Uncertainty abounds’: Willis on trade war challenges

Infrastructure

Billions needed for Northwest Busway

The rolling maul of transport-related announcements continues.

Oliver Lewis 3:40pm

Sponsored

“Not an invisible footprint”: Why technology supply chains need optimising

Outdated hardware is a supply chain and cost risk.

Datacom

Sponsored

Bayleys Total Property Issue 3 out now

Backed by Bayleys’ national strength and global reach

Bayleys

More Primary Sector

Primary Sector

Alliance Group on path back to profit

It now needs north of $200 million of capital to restore its balance sheet.

Riley Kennedy 5:00am

Primary Sector

Potential Mainland buyers may soon tap regulators

Fonterra's divestment process is gaining traction.

Riley Kennedy 17 Apr 2025

Primary Sector

Urgent call for change in lagging agri-products approval pathway

But the regulators say changes are being made.

Riley Kennedy 17 Apr 2025

Primary Sector

TTR files fast-track application to mine Taranaki sand

Seabed mining firm Trans-Tasman Resources has lodged its application to fast-track its project to harvest iron sands off the coast of Taranaki. The firm's parent company, Manuka Resources, told the Australian Securities Exchange (NZX) on Wednesday that the application was lod...

Staff reporters 16 Apr 2025

LIC farmer-owners to get slice of $18.5m National Milk Records sale

More Primary Sector

Your company has a subscription

Team