Sharechat Logo

Airline boys ready to take off with new telco repair venture

By Nicholas Bryant

Friday 20th October 2000

Text too small?
Sir Selwyn Cushing
Ross Keenan
Air New Zealand executive chairman Sir Selwyn Cushing and former Ansett New Zealand chief executive Ross Keenan are floating a company together.

The $1.2 million company, expected to be listed on the Stock Exchange's New Capital Market (NCM) in the next two weeks, aims to expand the Telecom repair and maintenance business of Takanini firm Cabletalk.

It will also acquire several similar operations including McBreen Jenkins and Astute Networks.

Mr Keenan will be chairman and Sir Selwyn a director with Cabletalk founder Ross Watton and existing Cabletalk shareholders and directors Dean Stuart, John Armstrong and Peter Wilson also involved.

Mr Wilson was general manager for marketing at Ansett New Zealand.

As an NCM listing, the company's directors will invest 50% of the capital with the other half available to the public after listing as 50c shares.

Craig and Co of Tauranga is the organising broker with the prospectus expected to be signed off by the companies office and the Stock Exchange next week.

The NCM system encourages investors to back a person or identity behind a listing rather than a company but until now there have been few well-known corporate figures involved.

One big advantage of an NCM listing is there is less disclosure required than to float on the main 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:

NZ dollar falls against Aussie after jobs data there
Sky CEO put on notice by chunky vote against salary share scheme
Unions gearing up to oppose 'market tests' on Fair Pay Agreements
Mandatory farm plans scorned as 'tick box' exercises
Kiwi dollar firms on weak US retail data, capped by rate-cut expectations
17th October 2019 Morning Report
SkyCity hoses down union claims over potential job losses
OPINION: Fair Payment Agreements and 'swallowing vomit' - the lot of the CTU
MARKET CLOSE: NZ shares gain; Restaurant Brands climbs on upbeat outlook
NZ dollar stalls after Bascand's rate cut comments

IRG See IRG research reports