New Zealand Wool Services International Limited
Transaction Type: Company meeting (Acquisition)
Acquirer: Forresters New Zealand Limited
Independent Adviser(s): Grant Samuel & Associates (Rule 18)
Date of meeting: 20/12/2001
On 30 October 2001, Hellaby Holdings Limited (HHL) announced that HHL had agreed to sell a 39% shareholding in New Zealand Wool Services International Limited (NZWSL) to Forresters New Zealand Limited (FNZL) at $0.37 a share, totalling $10.555 million.
The transaction would reduce HHL’s voting control in NZWSL to 20% and increase Mr Allan Hubbard’s voting control to 43%. Accordingly, NZWSL sought shareholder approval.
On 20 December 2001, NZWSL shareholders approved the sale of shares to FNZL.