Hill family seeks controlling stake in Michael Hill

An Australian company set up to consolidate the holdings of shares in Michael Hill International held by the Hill family through their family trusts is seeking a controlling stake in MHI.

The company, Durante Holdings, is a wholly-owned subsidiary of one of Hill family trusts. On consolidation it will own 182.4 million shares in MHI, representing 47.6% of all the shares.

Today Durante said it was offering to buy 5% of the shares it did not already own in MHI. That would see it buy 10m shares and would take its holding to 50.2%.

The offer price is 90c per share. MHI shares have ranged between 85c and 64c in the past year.

NZPA

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:

RBNZ - OCR lowered to 2.25%
SVR - Savor Interim Results and Trading Update
Genesis Energy Limited - Strategy & Earnings Growth On Trac
ARB - ArborGen Holdings Interim Results to 30 September 2025
FPH delivers strong growth for the first half
November 26th Morning Report
CEN - Contact31+ Strategy, Capital Markets Day 2025
November 25th Morning Report
RYM - Successful completion of full bank debt refinance
Curious about dividend investment strategies?