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

 


Vote of Confidence from Largest Shareholder

Media release
For immediate release


4 September 2006


Vote of Confidence in Teamtalk from its Largest Shareholder

Listed mobile radio company TeamTalk will soon be welcoming a number of new ‘old’ shareholders to its register, in a move which will improve the company’s accessibility.

Active Equities Ltd (AEL), TeamTalk’s largest shareholder, has just announced a partial share buy-back which will see AEL shareholders paid in TeamTalk shares. Under the proposal AEL shareholders will directly hold a total of approximately five million TeamTalk shares.

AEL will remain TeamTalk’s largest shareholder with approximately 4.96 million shares (24.8% of TeamTalk’s equity).

TeamTalk’s Managing Director David Ware, is delighted with the proposal saying it was a real vote of confidence in TeamTalk, which had been an extremely successful investment for AEL.

“And from TeamTalk’s point of view, one of the problems we’ve always had is that our shares have always been tightly held – meaning small transactions bounce the share price around and decent parcels of shares are difficult to obtain,” Mr Ware said.

“Active Equities’ plan will see our shares in the hands of a lot more investors, some of whom are likely to sell, thereby improving our share liquidity and overall accessibility to outside investors,” he said.

“And what’s more, while AEL’s shareholder will be new to our register, many will come with a seven-year history of involvement with TeamTalk - since well before we listed.”

Mr Ware said he was delighted AEL directors Paul Collins and Geoff Davis have indicated their willingness to continue as directors.

“AEL has been a superb partner for TeamTalk for the past seven years and with their help the company has gone from strength to strength. We’ve got some very exciting plans and Paul and Geoff will remain key board members going forward.”

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>

ALSO:

Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>

ALSO:

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

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:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news