Lantern Hotel Group, an ASX-listed business 37% owned by NZX-listed Pyne Gould Corp Ltd, has sold 2 hotels in the last 3 weeks, encountered a sale double-up on a third hotel last Friday and will put a resolution to shareholders at its annual meeting next Tuesday enabling it to sell the whole portfolio of 8 pubs.
Former Canterbury stock & station agent Pyne Gould Corp Ltd – still listed on the NZX although its business is now in the UK & Australia and it wants to be listed in London – reported a financial turnaround yesterday based mostly on non-cash movements in foreign currency reserves.
Kerr presents $22 million-plus demand and Barnes rejects it – NZF board opts for voluntary administration – New Warehouse bond offer – Warehouse Q3 sales up 4.3%
Pyne Gould Corp Ltd confessed on Thursday that it still hadn’t received $22 million of the $26.6 million it reported as net profit in its 2014 accounts.
2 apartments sell at Ray White’s – 2 warehouses & childcare centre sell – Harbour City Centre sale settled – Dorchester at 60% in Turners takeover – Pyne Gould suspended
Investors in Pyne Gould Corp Ltd may be ruing their decision to stay with the company on its journey from an NZX listing to a UK listing, now that it’s embroiled in a battle with offshore – but Kiwi-led – partners.