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

 


Shareholders Vote To Wind Up Property Leaders


August 23, 2001

STOCK EXCHANGE ANNOUNCEMENT


Shareholders Vote To Wind Up Property Leaders Companies

Statement made by Bill Wilson, Chairman, Property Leaders New Zealand Ltd, Property Leaders Australia Ltd and Property Leaders Australia and
New Zealand Ltd

At the annual meetings of the three Property Leaders companies today, shareholders voted to place the companies into voluntary liquidation and to delist them from the New Zealand Stock Exchange.

Shareholders appointed Laurence Chilcott and Peter Chatfield of Smith Chilcott as liquidators.

Shareholders accepted the recommendation of the companies’ directors that given the lack of investor support for the three property funds, and the likely loss of the binding ruling from Inland Revenue exempting them from paying tax on capital gains, the best way to preserve current shareholder wealth was to liquidate the companies.

For further information please contact
Anthony Quirk, who is a Director of each of the three Property Leaders companies.
Tel 0-9-3 77 7262, 025 895 568.

Issued on behalf of the Property Leaders companies by Network Communications
(Dennis Lynch). Tel 0-9-379 354.


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Half A Billion Accounts: 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>>

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:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news