Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search


Council Approves Establishment of CCO

10 December 2007


Council Approves Establishment of CCO

New Plymouth District Council today approved the establishment of a council-controlled organisation (CCO), enabling NPDC’s investment managers to continue with plans to buy a majority shareholding in a large Tasmanian dairy farming business.

In accordance with the Takeovers Code, a formal takeover offer has now been made to acquire all of the shares in Tasman Farms Ltd (TFL). If the takeover is successful, TFL will become a council-controlled organisation under the Local Government Act 2002.

The major shareholder of TFL has already agreed to sell its 41.5 per cent stake to NPDC, through Taranaki Investment Management Ltd, at a price of $1.10 per share. This price will now be offered to the remaining TFL shareholders with a stake of more than 50 per cent required for the takeover offer to become unconditional.

Today’s council decision followed a 30-day consultation period in which one public submission was received and considered.


© Scoop Media

Parliament Headlines | Politics Headlines | Regional Headlines


Breed Laws Don’t Work: Vets On New National Dog Control Plan

It is pleasing therefore to see Louise Upston Associate Minister for Local Government calling for a comprehensive solution... However, relying on breed specific laws to manage dog aggression will not work. More>>


Corrections Corrected: Supreme Court Rules On Release Dates

Corrections has always followed the lawful rulings of the Court in its calculation of sentence release dates. On four previous occasions, the Court of Appeal had upheld Corrections’ practices in calculating pre-sentence detention. More>>


Not Waiting On Select Committee: Green Party Releases Medically-Assisted Dying Policy

“Adults with a terminal illness should have the right to choose a medically assisted death,” Green Party health spokesperson Kevin Hague said. “The Green Party does not support extending assisted dying to people who aren't terminally ill because we can’t be confident that this won't further marginalise the lives of people with disabilities." More>>


General Election Review: Changes To Electoral Act Introduced

More effective systems in polling places and earlier counting of advanced votes are on their way through proposed changes to our electoral laws, Justice Minister Amy Adams says. More>>

Gordon Campbell: On Our Posturing At The UN

In New York, Key basically took an old May 2 Washington Post article written by Barack Obama, recycled it back to the Americans, and still scored headlines here at home… We’ve had a double serving of this kind of comfort food. More>>


Treaty Settlements: Bills Delayed As NZ First Pulls Support

Ngāruahine, Te Atiawa and Taranaki are reeling today as they learnt that the third and final readings of each Iwi’s Historical Treaty Settlement Bills scheduled for this Friday, have been put in jeopardy by the actions of NZ First. More>>


Gordon Campbell: On The Damage De-Regulation Is Doing To Fisheries And Education, Plus Kate Tempest

Our faith in the benign workings of the market – and of the light-handed regulation that goes with it – has had a body count. Back in 1992, the free market friendly Health Safety and Employment Act gutted the labour inspectorate and turned forestry, mining and other workplace sites into death traps, long before the Pike River disaster. More>>

Get More From Scoop



Search Scoop  
Powered by Vodafone
NZ independent news