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

 


Aotearoa Fisheries announces a special bonus share issue

Media release from Aotearoa Fisheries Ltd

Aotearoa Fisheries Limited announces a special bonus share issue
The mission of Aotearoa Fisheries Limited is to maximise the value of Māori fisheries assets and to deliver growth in shareholder wealth to Iwi. Aotearoa Fisheries Limited is one of New Zealand’s largest fishing companies and is owned by all Māori.

Today Directors of Aotearoa Fisheries Limited, have announced that they will be making a special taxable bonus share issue to shareholders.

Aotearoa Fisheries will issue a total of $141 million of new shares to shareholders in proportion to their existing shareholding.

Aotearoa Fisheries is making the bonus share issue to unlock tax credits of $30 million available within the Group, which also encompasses Sealord Group Limited. By making the bonus share issue, Aotearoa Fisheries is able to turn those tax credits into real cash benefits for shareholders.

The special taxable bonus share issue does not alter Aotearoa Fisheries obligation to pay a regular dividend and the Directors expect to make the annual dividend announcement early December.

- Ends -

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Revenue Renewal: Tax Modernisation Programme Launched

Revenue Minister Todd McClay today released the first two in a series of public consultations designed to modernise and simplify the tax system. More>>

ALSO:

Scoop Business:
NZ Puts Seven New Oil And Gas Areas Put Up For Tender

A total of seven new areas will be opened up to oil and gas exploration under its block offer tendering system, as the New Zealand government seeks to concentrate activity in a few strategically chosen areas. More>>

ALSO:

Half Full: Dairy Payouts Steady, Cash Will Be Tight

Industry body DairyNZ is advising farmers to focus on strong cashflow management as they look ahead to the 2015-16 season following Fonterra's half-year results announcement today. More>>

ALSO:

First Union: Cotton On Plans To Use “Tea Break” Law

“The Prime Minister reassured New Zealanders that ‘post the passing of this law, will you all of a sudden find thousands of workers who are denied having a tea break? The answer is absolutely not’... Cotton On is proposing to remove tea and meal breaks for workers in its safety sensitive distribution centre. How long before other major chains try and follow suit?” More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news