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

 


Ron Brierley renews interest in Allied Farmers, buying 2.87%

Ron Brierley renews interest in Allied Farmers, buying 2.87% stake

March 7 (BusinessDesk) – Ron Brierley has acquired 2.87 percent of Allied Farmers, which is recovering from its disastrous takeover of the Hanover and United Finance loan books, making him the fifth largest investor in the Hawera-based company.

Brierley holds about 3 million shares in Allied, according to a Companies Office filing. That’s worth about $133,000 based on Allied’s most recent stock price of 4.4 cents. The shares have climbed 159 percent since late August, when they were around 1.7 cents.

Brierley last showed interest in Allied in 2009, when at the helm of Guinness Peat Group and had mulled making a rival bid for Hanover’s loan book, the National Business Review reported. Instead, GPG sold its holding before Allied took control of Hanover.

He bought back into the company by buying shares from MSL Capital Markets, a brokerage that is 37 percent owned by interests associated with Infratil director Duncan Saville, NBR said.

Allied Farmers last month narrowed it first-half loss to $468,000 from $2.47 million a year earlier, helped by earnings of $315,000 from its livestock unit, the company’s main revenue generator.

Allied Farmers avoided liquidation last year, raising $600,000 in a bond issue, almost half of which was bought by interests associated with chairman Garry Bluett. In December the company reached a conditional deal with Spiers Group, now its largest shareholder, to settle a $2 million liability for shares and a deferred payment worth $1.2 million.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Trade Agreements: TPP Minus US Starting To Gain Ground

The Japanese government is picking up the pace on reviving the Trans-Pacific Partnership trade and investment deal, with talks scheduled next month among the 11 countries left in the pact after the withdrawal by the US after the election of president Donald Trump. More>>

ALSO:

PACER:

Prices Up 2.2%: Annual Inflation Highest In Over Five Years

"Rising petrol prices along with the annual rise in cigarette and tobacco tax lifted inflation," prices senior manager Jason Attewell said. "Petrol prices in New Zealand are closely linked to global oil prices, and cigarettes and tobacco taxes rise in the March quarter each year". More>>

ALSO:

Undertaxed? NZ Income Tax Rate Second Lowest Among Developed Nations

New Zealand workers pay the second smallest portion of their income to the government among developed nations and less than half the average ratio of their Organisation for Economic Cooperation and Development peers. More>>

ALSO:

Cyclone Cook: Round Up Of This Week’s Weather

One of the significant impacts this week was flooding due to excessive rainfall amounts. Rainfall amounts topped out at 350mm over the past 60 hours in parts of northwest Nelson, with 200mm+ measurements recorded about Coromandel Peninsula, and between 150-200mm in the Kaimai Ranges. Rainfall amounts of between 30-50mm were commonplace elsewhere. More>>

ALSO:

Earlier: Batten Down The Hatches For Cyclone Cook

Although fast-moving, Cyclone Cook will be destructive and MetService Expert Meteorologists have issued Severe Wind Warnings for the whole of the North Island apart from Northland... More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news