NZOG board recommends sale of Kupe stake after report deems if 'fair'
By Tina Morrison Dec. 1 (BusinessDesk) - New Zealand Oil & Gas has recommended shareholders support the proposed sale of the energy explorer and producer's stake in the Kupe oil and gas field, after an independent appraisal report deemed the offer was fair. The independent...
Cavalier shares halted pending Appeal Court judgment on wool scour merger
By Tina Morrison Nov. 30 (BusinessDesk) - Cavalier Corp shares were halted from trading as the New Zealand carpet maker awaits the outcome of an appeal against a High Court ruling which gave the green light to the merger of its wool scouring operations. A judgment on the ap...
UPDATE: Tower pours Canterbury quake claims into 'bad bank', in talks over capital needs
(Adds comments from CEO Harding throughout, updates shares) By Tina Morrison and Jonathan Underhill Nov. 29 (BusinessDesk) - Tower said it will separate its liabilities and receivables from the Canterbury earthquakes into a separate 'bad bank' structure and "aggressively pu...
NZX seeks feedback on proposed changes to participant rules
By Tina Morrison Nov. 28 (BusinessDesk) - NZX, the stock market operator, is seeking feedback on plans to tweak rules for market participants such as brokers and advisers. Wellington-based NZX released a consultation paper outlining proposed changes in August, following a d...
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