Sharechat Logo

Sam Morgan, David Wright increase stake in Ecoya; Rob Fyfe buys shares from founder

Thursday 10th November 2011

Text too small?

Trade Me founder Sam Morgan and Max clothing chain founder David Wright have increased their holdings in Ecoya, the scented candle and skin-care products company, through a $1.15 million placement of new shares.

Morgan, Wright’s Miromutu Trust and a local fund manager bought 1.28 million shares at 90 cents apiece, amounting to about 2.5 percent of the company, it said in a statement to the NZX. That’s a 7.2 percent discount to the company’s most recent trade on the NZX.

Separately Air New Zealand chief executive Rob Fyfe, who is also a director of Ecoya, increased his holding by purchasing 277,778 shares from founder Craig Schweighhoffer.

Ecoya shares last changed hands on the NZX at 97 cents, valuing the company at $49.7 million, and have gained 49 percent this year.

Ecoya’s backers include executive chairman Geoff Ross, who drove the successful global rollout of the 42 Below vodka brand, and are hoping for similar success marketing candles and skin-care products.

Ecoya gained an existing distribution network with the acquisition of skin-care products company Trilogy for $10 million cash and earn-out payments of as much as $10 million. Trilogy chief executive and founder Sara Gibbs subsequently joined the Ecoya board.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Ecoya ekes out small annual profit, EBITDA up 26%
Ecoya changes name to Trilogy as skincare range trumps scented candles
Ecoya beats 2013 earnings guidance as Trilogy dominates
Ecoya posts maiden annual operating profit
Ecoya beats revenue guidance by 10%
Ecoya signs deal with Japanese distributor
Ecoya on track for 2012 profit, breaks even at EBIT level in first half
Ecoya is confident of achieving revenue forecast
UPDATED: Ecoya completes $4.7m share placement
Ecoya shares halted for share placement