BNZ-NAB money-go-round ends up with $345M for Australian parent
By Jenny Ruth Dec. 5 (BusinessDesk) - Bank of New Zealand is paying its Australian parent, National Bank of Australia, a $945 million dividend and the parent is giving $600 million of that back to it as additional equity. BNZ reported a $1.03 billion net profit for the year...
Promisia Integrative launches high risk rights issue
By Jenny Ruth Dec. 5 (BusinessDesk) - Dietary supplements company Promisia Integrative is warning investors that if they participate in its $1.67 million capital raising they run a high risk of losing their money. The company has been operating with the financial support of...
Hallenstein's board too long in the tooth despite strong performance: NZSA
By Jenny Ruth Dec. 5 (BusinessDesk) - The New Zealand Shareholders’ Association will vote to re-elect two of Hallenstein Glasson Holdings’ long-serving directors but says the company should be looking for fresh blood. Chair Warren Bell is up for re-election and has been on...
Why Vital Healthcare institutional investors are rebelling
By Jenny Ruth Dec. 5 (BusinessDesk) - At the root of the stoush between institutional investors in Vital Healthcare Property Trust and its manager is the fear that the manager may buy property at the top of the market. A month after former chair Graeme Horsley resigned in...
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