Sharechat Logo

Gould company raises $6.2 million for investments

By NZPA

Monday 17th February 2003

Text too small?
South Island businessman George Gould is cranking up his investment activities after raising cash for his company Gould Holdings.

Mr Gould, chief executive of rural services firm Pyne Gould Guinness and chairman of Designer Textiles, said Gould Holdings has raised $6.2 million in new equity to fund investments, including stakes in listed companies.

"It is possible, and likely, that further equity will be raised to other parties in the near future," Mr Gould said in a statement today.

By increasing the shareholder base to 18 from one, Mr Gould diluted his stake in Gould Holdings to 71.5 percent.

Gould Holdings' main asset is 24.7 percent of Designer Textiles, and last week Mr Gould also disclosed the purchase of 10.3 percent of plastics manufacturer Vertex.

The two holdings plus cash bring Gould Holdings' total assets to $15 million, and the company has no bank debt, he said.

Designer Textiles was the top performing stock on New Zealand's sharemarket last year and announced last week a 25 percent increase in interim profit.

Vertex met its reduced profit forecast last year, but its shares have fallen from their listing price of $2.05 last July to $1.59.

Designer Textiles shares closed up 4c at $1.04.

Mr Gould is chairman of Gould Holdings, and John Maasland, ex-chief executive of Wilson & Horton and new Carter Holt Harvey chairman, is a director.

  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:

July 3rd Morning Report
ikeGPS Chief Financial Officer Transition
TWL - TradeWindow announces strategic partnership with FTA
BLT - Patent issue settled and new 5 year agreement with BSP
July 2nd Morning Report
July 1st Morning Report
June 27th Morning Report
SDL - FY2026 Earnings Guidance
PaySauce Director resigns for US-based role with NZTE
General Capital Releases 2025 Annual Report