Strategic Finance under MBO, has securities trading halted

Managers led by chief executive Kerry Finnigan teamed up with Halifax Bank of Scotland unit BOS International to acquire the company, gaining support from BOS for a NZ$150 million wholesale lending facility that would reduce its need for debenture funds.

The proposal is subject to approval by shareholders of Allco HIT, which is selling Strategic Finance's immediately parent. Strategic's current owners are "unable to assist in providing the necessary capital we need to run the business and move forward," Finnigan told BusinessWire last month.

The company had assets of NZ$568 million at June 30, with debentures at NZ$320 million. Strategic's 10.52% perpetual preference shares trade on the NZX debt market.

By Jonathan Underhill

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.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

GEN - Dividend Reinvestment Plan Strike Price
Fletcher Building Update on Funding Facilities
December 5th Morning Report
Pacific Edge Names Simon Flood Chairman Designate
Fonterra provides FY26 Q1 business update
Devon Funds Morning Note - 4 December 2025
Six60 x SYNTHONY join forces for the first concert at One NZ Stadium
December 4th Morning Report
WCO - WasteCo appoints Stephen Towsen as Chief Operating Officer
December 3rd Morning Report