Wool Equities to de-list from NZAX, trading suspended

Mon, 10 Mar 2014

March 10 (BusinessDesk) - Wool Equities, which processes wool for its grower shareholders, will de-list from the small-cap New Zealand Alternative Market, and has suspended share trading. The company has been negotiating a potential merger with Primary Wool Cooperative, a farmer-owned joint venture with wool broker Elders, and one of the pre-requisites of the talks is for Wool Equities to quit the stock exchange, chairman Clifford Heath said in a statement. The company decided it would be better to spend listing fee funds on direct communi...

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