Takeovers Panel seeks details of new Chow Group shareholders as brothers reduce holding

Thu, 17 Mar 2016

By Jonathan Underhill March 17 (BusinessDesk) - Property developers John and Michael Chow have reduced their holding in Chow Group as part of their efforts to meet NZX listing requirements but the Takeovers Panel wants to know if any new shareholders should be considered "associates" that wouldn't count for code compliance. The Chows reduced their holding to 88.6 percent from 91.6 percent through a series of transactions last week that were "part of Michael and John Chow’s long-term plan to levels closer to that which would be required to...

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