Sharechat Logo

Hill family seeks controlling stake in Michael Hill

Monday 20th December 2010

Text too small?

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



  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:

GEN - Equifax reaffirms General Finance Limited's BB rating
General Capital Subsidiary General Finance Market Update
CHATHAM ADVISES EXTENDED CLOSING DATE OF 9 AUGUST FOR SPP
Acceleration of expressway will be transformative for Northland economy says EMA
The Warehouse Group - Proposed Scheme of Arrangement
The Warehouse Group - Proposed Scheme of Arrangement
Winton announces timing of its Annual Results
Fletcher Building Announces Director Appointment
Meridian issues new demand response exercise notice to NZAS
CRP - Chatham Closes Private Placement of Shares