Goodman fee restructure support just a few votes off 100%
Mint reduces NPT stake
Zero Commission makes 2 new lowball offers
5.20pm:
Goodman fee restructure support just a few votes off 100%
Goodman Property Trust unitholders voted 99.79% in support of a new management fee structure at the annual meeting at the trust’s Highbrook business park today.
- Meeting story to come overnight.
Earlier story, 16 July 2014: Goodman manager proposes incentive to make development land income-producing faster
Mint reduces NPT stake
Mint Asset Management has dropped its stake in NPT Ltd (ex-National Property Trust) from 7.2% last October to 5.8%.
Zero Commission makes 2 new lowball offers
2 listed companies, Tower Ltd & Pumpkin Patch Ltd, told the NZX today Zero Commission NZ Ltd (Roy Jackson & Phil Briggs, Oneroa, Waiheke Island) had given them notice of an intention to make lowball offers to shareholders.
Tower said Zero Commission’s offer to holders of parcels of 200-750 shares would be at $1.72/share, 10c below yesterday’s closing price but only 7c below today’s close.
Tower chief financial officer Michael Boggs warned: “Shareholders accepting Zero Commission’s offer should be aware they are likely to be in the position of being an unsecured creditor of Zero Commission during the period between their shares being transferred to Zero Commission and receiving full payment from Zero Commission.”
Zero Commission offered 36c/share for parcels up to 3000 shares in Pumpkin Patch. That was 5c below yesterday’s close, 8c below today’s.
Home sales & listings slide but prices hold, says Barfoots chief
Barfoot & Thompson said today its residential listings reached a 7-month low at the end of July.
Managing director Peter Thompson said sales dropped from 1037 in June to 983 in July and the average sale price rose less than 1%, from $714,054 to $719,312 in July.
Story: Barfoots chief says sales & listings slide, prices steady
Attribution: Annual meeting, company releases.