Sharechat Logo

IT Capital battles on

By Duncan Bridgman

Friday 4th July 2003

Text too small?
Listed investor IT Capital has reduced its percentage interest in Deep Video Imaging to 19.44% after Power Beat International failed to prevent the restructure in the High Court.

However, Power Beat is pressing ahead with another claim for the return of the 34% of DIV that it sold to IT Capital in May 2000.

IT Capital Shares were untraded at press time yesterday but traded previously at 1.2c.

In November 2000, when Stephen Tindall and IT Capital invested $2.5 million to raise their DVI stakes from 40% to 41.8%, the share price was 23c.

Power Beat has been ordered to pay costs of $22,500 plus disbursements to DVI as a result of the injunction application being dismissed.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
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:

MARKET CLOSE: NZ shares fall as US-China trade concerns weigh on markets; Ryman slips
NZ dollar stalled; US-China trade deal may be postponed
AFT Pharmaceuticals starts to hit its straps
Crown seeks US$100m from Tui operator; Prospector moving on
Pacific Edge goes back to shareholders for another $20m
Crown seeks $100m from Tui operator Tamarind
Ryman underlying annual profit may rise by up to 17%
NZ dollar eases on increasing US-China doubts, lack of news in Fed minutes
From dog tucker to top dog: economists ask how Northport can be Auckland’s best replacement
MARKET CLOSE: NZ shares rise; Metlife jumps on takeover talk

IRG See IRG research reports