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


Straightedge Graduation To Main Board Approved

Tue, 6 Aug 2002

Stock Exchange Approves Straightedge Graduation To Main Board

Straightedge Asked To Join Main Board After It Completes Key Transaction

Auckland, 6 August 2002 - Straightedge Limited (NZSE:SRE) revealed today that it has received approval from the Stock Exchange to automatically graduate to the main board on completion of its Key Transaction and securing 500 shareholders.

Under the Stock Exchange Listing Rules (12.8.1 and 5.2.3 (a)) approval has been given for Straightedge to graduate from a New Capital Market (NCM) issuer to main board listing as soon as its Key Transaction, the acquisition of Carter Holt Harvey business unit, Straightedge Division, is settled, and the company has a register of 500 shareholders.

Marc Potter, Chairman of Straightedge Limited says the approval follows a meeting between the Stock Exchange's CEO Mark Weldon and the company's directors on Wednesday 10 July where Mr. Weldon indicated positively that Straightedge was a NCM listing he had identified for the main board.

"The NZSE approval is another sign of confidence from the market that Straightedge is on track to achieve a main board listing as well as its other goals," says Potter.

"The Board and I have had our sights on a main board listing but we're pleased that Straightedge should be identified so early on in the process as one deserving of an accelerated graduation.

"The tremendous success Straightedge Division has had recently in generating revenue and penetrating significant hardware chains for its unique DIY software design products in New Zealand, Australia and North America markets has generated a lot of interest in our current offer of shares in support of our key transaction. I believe all investors will welcome a main board listing for Straightedge and the liquidity that represents. In particular institutional investors have signalled a positive interest in this development." says Potter.

Straightedge Limited has extended the public offer of shares in the company until Friday 16 August. The minimum application is 2,000 shares at $0.50 cents each and application forms can be obtained from any member of the NZSE or organising broker Forsyth Barr Limited or downloaded along with the Notice of Meeting /prospectus from the company's page on the NCM website -


© Scoop Media

Business Headlines | Sci-Tech Headlines


ScoopPro: Helping The Education Sector Get More Out Of Scoop

The ScoopPro professional license includes a suite of useful information tools for professional users of Scoop including some specifically for those in the education sector to make your Scoop experience better. More>>

Big Tax Bill Due: Destiny Church Charities Deregistered

The independent Charities Registration Board has decided to remove Destiny International Trust and Te Hahi o Nga Matamua Holdings Limited from the Charities Register on 20 December 2017 because of the charities’ persistent failure to meet their annual return obligations. More>>

57 Million Users' Data: Uber Breach "Utterly Preventatable"

Cybersecurity leader Centrify says the Uber data breach of 57 million customer and driver records - which the ride-hailing company hid for more than a year - was “utterly preventable”. More>>

Scoop 3.0: How You Can Help Scoop’s Evolution

We have big plans for 2018 as we look to expand our public interest journalism coverage, upgrade our publishing infrastructure and offer even more valuable business tools to commercial users of Scoop. More>>

Having A Cow? Dairy Product Prices Slide For Fourth Straight Auction

Dairy product prices fell at the Global Dairy Trade auction, retreating for the fourth straight auction amid signs of increased production... Whole milk powder fell 2.7 percent to US$2,778 a tonne. More>>


Statistics: Butter At Record $5.67/Block; High Vegetable Prices

Rising dairy prices have pushed food prices up 2.7 percent in the year to October 2017, Stats NZ said today. This followed a 3.0 percent increase in the year to September 2017. More>>


Science: New Research Finds Herbicides Cause Antibiotic Resistance

New University of Canterbury research confirms that the active ingredients of the commonly used herbicides, RoundUp, Kamba and 2,4-D (glyphosate, dicamba and 2,4-D, respectively), each alone cause antibiotic resistance at concentrations well below label application rates. More>>


  • Bill Bennett on Tech