A2 Corp director Greg Hinton extracts shares from vehicle shared with chairman Cliff Cook
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.
Comments from our readers
Add your comment:
BNZ chief executive Healy calls on business leaders to help fix five key NZ challenges
Elders Primary Wool, Primary Wool buy Christchurch Yarns NZ out of receivership
RBNZ risk management to protect the system, not individual entities
Pyne Gould sells Epic stake after failing to gain control of the board
NZ dollar drops after tepid inflation opens path lower
Fletcher Building wins government contract to build 237 homes in Christchurch
Restaurant Brands raises annual profit forecast; shares jump to a record
RESEND:NZ inflation steady at 0.3% in third quarter, slower than expectations; kiwi drops
Wheeler says LVR policy worth 25-50 basis points of OCR rate tightening
NZ dollar weakens ahead of 3Q inflation on speculation interest rates to stay on hold