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

 

EOL sale approved by Newcall Group shareholders


EOL sale approved by Newcall Group shareholders

AUCKLAND 28 NOVEMBER 2002: Newcall Group Limited shareholders today gave their overwhelming approval to the sale of its electricity retailing subsidiary, Energy Online Ltd, to Genesis Power Limited.

At a special shareholder meeting Newcall Managing Director, Jim Bracknell, said the sale of EOL's assets would enable the group to relieve much of its debt and accrued interest, enabling it to "clear the slate and go forward".

"The sale, and its overwhelming approval by shareholders, represents another important step in the group's transition to an IT focused company spearheaded by ISP Iprolink, specialised utility billing and CRM subsidiary, Newcall Technology, and UCC (2001) Ltd. (The acquisition of the assets of UCC (2001) Ltd is still to be approved by Newcall Group shareholders.)

"In particular, Newcall will be aiming to become a significant player in the deployment of wireless broadband technology in New Zealand," said Mr Bracknell.


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

21, 22, 23 December: Air NZ Workers Vote To Strike

Last week union members voted overwhelmingly in favour of industrial action in response to the company’s low offer and requests for cuts to sick leave and overtime. More>>

ALSO:

24/7: National Geohazards Monitoring Centre Opens

For the first time, New Zealand will have 24-7 “eyes on” monitoring of the four perils: earthquake, tsunami, landslides and volcanic activity. More>>

ALSO:

EU Wine Exports: Yealands Fined For "Unprecedented Offending"

Yealands Estate Wines has pleaded guilty to “unprecedented offending” under the Wine Act 2003 and has copped a $400,000 fine. More>>

ALSO:

Discussion Paper: Govt To Act On Unfair Commercial Practices

“I’ve heard about traders who have used aggressive tactics to sell products to vulnerable consumers, and businesses that were powerless to stop suppliers varying the terms of their contract, including price.” More>>

ALSO:

'Considering Options' On Tip Top Ownership: Fonterra Drops Forecast Milk Price

Fonterra Co-operative Group Limited today revised its 2018/19 forecast Farmgate Milk Price range from $6.25-$6.50 per kgMS to $6.00-$6.30 per kgMS and shared an update on its first quarter business performance. More>>

ALSO: