UPDATE: Tenon shareholders back sale of Taupo mill, winding up

Mon, 20 Mar 2017

(Updates and recasts on voting result) By Paul McBeth March 20 (BusinessDesk) - Tenon shareholders have overwhelmingly backed plans to sell the firm's Taupo wood processing mill to a consortium of US and New Zealand investors and wind up the business. At a special meeting in Auckland, investors were almost unanimous in their support of measures to sell the Clearwood mill in Taupo to interests led by Tenon's controlling shareholder Rubicon for US$55 million, which would then see two capital returns expected to generate $2.12 per share...

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