A2 Corp director Greg Hinton has extracted his shareholding from an investment vehicle shared with Cliff Cook, chairman of the company that markets milk with the ‘A2’ type of beta casein protein.
Hinton’s 11 million shares have been transferred into his own name from Mountain Road Investments, reducing its stake in A2 to 23.2 percent from 25 percent. Hinton owns 10 shares of Mountain Road, with the remaining 90 shares held by Cook’s Private Health Care (NZ).
“Greg and I have been working in partnership for a number of years on a range of investments that we have held jointly,” Cook said in a statement. “More recently there has been a change with Greg now only part time with me and working more on his own projects. As a result of these changes, we’ve agreed it is more appropriate for Greg to hold his shares in A2 directly.”
Shares of A2 have soared 140 percent this year and last traded at 24 cents, valuing the company at about $142 million.
Cook said he understands that Hinton is keen to remain a director of the company.