Ralec owners set first earn-out target for Clear that wasn't met, Kirkham says

Mon, 23 May 2016

By Sophie Boot May 24 (BusinessDesk) - Ralec set the first earn-out target for the Clear Grain Exchange which the trading platform failed to meet under NZX's ownership, says NZX's former head of strategy Heather Kirkham. Kirkham told the High Court yesterday that she thought the target, for 1.5 million tonnes of grain traded in its first year, was optimistic and hadn't come from NZX;s due diligence team. She was being cross-examined by Georgia Berlic, counsel for Ralec, in the fourth week of the hearing between NZX and Ralec. The stock...

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