Sharechat Logo

Major shareholding in Rainbow's End operator up for grabs

Wednesday 14th July 2010

Text too small?

Almost three-quarters of New Zealand Experience, which operates the Rainbow’s End theme park in Manukau, is being put up for sale.

Canada’s Garlow Management, the trustee for the Estate of George Ryerson Gardiner, told NZ Experience it wants to start sounding out expressions of interest for the 27.2 million shares it holds in the company worth $8.7 million at today’s price of 32 cents. The stock was unchanged in trading today and has climbed 33% this year.

NZ Experience’s directors told Garlow Management they are willing to assist in the process, though they will act in the interests of all shareholders, the company said in a statement lodged with the NZX.

The directors are seeking external advice on the sale.

Garlow Management has been selling off the former assets of Emerald Capital after Gardiner’s beneficiary died in 2008. Emerald Capital was liquidated last year with some $385 million worth of distributions, and Garlow sold its 14% stake in Ryman Healthcare last month.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
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:

Fletcher Building Announces Director Appointment
Meridian issues new demand response exercise notice to NZAS
CRP - Chatham Closes Private Placement of Shares
General Finance - Olympic Term Deposit Promotion featuring a Special Bonus of 0.1%
July 22nd Morning Report
VCT - Operational performance for the year ended 30 June 2024
Challenge to banks the way to go
Bigger returns or lower risk?
NPH - Director Appointment
July 19th Morning Report