Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Waltus Merger Plan Supported By Key Brokers

Investors should vote ‘yes’ to the Waltus Investments proposal to merge 29 syndicates into one, according to three of the country’s top financial planning firms.

Brent King of Dorchester Pacific Ltd said he was sceptical of the proposal at the start, but having looked at it carefully he’s convinced it’s the best alternative.

“We’re practical investment advisors, and in the small single-property type syndicates it can be difficult for people if they urgently need to liquidate their investment unless the syndicate has special features,” Mr King said.

“One of the strongest features of the proposal is that the larger size should give greater liquidity to the benefit of investors.”

“On balance we believe people will get better results by voting yes, than if their syndicate stays out of the merger.”

Broadbase Group’s Marshall Garrett said that his firm had taken independent advice on the proposal and were satisfied it was in the best interests of investors.

“I’m pleased that Waltus have been proactive in seeking a solution in what is clearly a difficult phase of the property market cycle,” Mr Garrett said.

“We’re recommending that our clients vote for the merger, because we can see that it is the best option in the current market conditions,” said Kelvin Syms of Northplan.

“Sure, some people have had issues with some of the minor details, but what we’re saying is that those details aren’t important enough for people to vote against the merger.”


Ends

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

ALSO:

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news