Pyne Gould plunges 19 percent to record low after annual meeting

Wed, 28 Nov 2012

By Paul McBeth Nov. 29 (BusinessDesk) - Shares in Pyne Gould Corp plunged to a record low after yesterday's annual meeting where chairman Bryan Mogridge told investors the firm will probably quit New Zealand. The stock sank 19 percent to 22 cents in trading this morning, with about 0.08 percent of shares on issue changing hands. The shares have shed a third of their value this month, and are now trading at a 41 percent discount to what managing director and controlling shareholder George Kerr paid earlier this year. Kerr paid 37 cents a sh...

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