2014 News

2014 News












12 December 2014

PF Olsen signs MOU in the presence of Chinese President Xi Jinping and NZ Prime Minister John Key

Please read the article here.


23 October 2014

Direct Capital Wins NZVCA Deal of the Year Award

Please read the article here.


23 October 2014

Ross George Recognised as Champion of Private Business Growth

Please read the article here.


21 October 2014

Cavalier Wool Holdings

Media release

New Zealand's Wool Scours to Merge

In a joint release, Cavalier Wool Holdings (CWH) and New Zealand Wool Services International (NWSI) today announced that they have signed an agreement to merge the scouring assets of the two organisations.

Please read the full announcement here.


1 October 2014

Scales Corporation

Scales interim report for the six months ended 30 June 2014 can be viewed here.


11 September 2014

Transaction Services - DebitSuccess expands into the US

Kiwi e-commerce firm Debitsuccess is expanding its payment solutions operation into the US, the company has announced.

The international growth comes as the Auckland-based business prepares to celebrate its 20 year anniversary, and caps off a busy 12 months for the company which acquired UK direct billing providers Harlands and DFC.

Please read the full article here.


25 July 2014

 Media release       

Scales Corporation lists on the NZX Main Board

Shares in leading New Zealand agribusiness group, Scales Corporation, began trading on the NZX Main Board today following the successful IPO that raised $149 million through the sale of new and existing shares.

The stock in the horticulture, storage and logistics and food ingredients business had been issued at $1.60 valuing Scales at $224 million.

 Please read the full Scales announcement here.


4 July 2014

Media release                                                                                                       

Scales Corporation IPO bookbuild completed with strong investor demand

A stake in New Zealand’s primary sector will cost investors $1.60 a share following a successful bookbuild process by Christchurch-based agribusiness Scales Corporation.  The final Offer size has been set at 93 million ordinary shares (being $149 million) and includes $30 million of new capital to provide flexibility for the future expansion of its business.

Please read the full Scales announcement here.


20 June 2014

Media release                                                                                                        


An investment in New Zealand’s primary industry

 Investors will soon be able to own a stake in Scales - a large, diverse and growing New Zealand agribusiness group.  

 Christchurch-based Scales Corporation Limited today registered a prospectus for the initial public offering of ordinary shares in the company.  The investment statement for the IPO will be available at www.scalescorporation.co.nz

The IPO comprises an offer of up to 100.8 million ordinary shares.  The offer will raise up to $30 million of new capital which will provide Scales with flexibility for the future expansion of its business.  As part of the IPO, majority shareholder Direct Capital Investments Limited will sell down from its current 84 per cent shareholding, but together with its co-investors the New Zealand Superannuation Fund and ACC, will retain a cornerstone shareholding of 20% to 30% in Scales following the IPO. 

 An indicative price range has been set at $1.60 to $1.85 per share.

Please read the full Scales announcement here.


3 June 2014


From Scales Corporation Limited


The directors of Christchurch-based Scales Corporation have announced the company is considering an initial public offering and a listing on the NZX Main Board.

Please read the full Scales announcement here.


1 May 2014


From Scales Corporation Limited

There has been market speculation that Christchurch-based Scales Corporation Limited is considering an initial public offering of shares to the public.

While the Scales board regularly reviews whether or not a listing on NZX would be beneficial we aren’t in a position to confirm anything at this time. There is currently no prospectus on issue and no monies are being sought from the public.

 No further comment can be made at this stage but we will continue to keep our shareholders informed of any relevant developments.

 Jon Mayson, Chairman

Please read the full Scales announcement here.


30 April 2014

Scales Group

Further to the news item of 12 March 2014 (Demerger of Scales) Scales Corporation Limited (Scales) has now completed the demerger of its investment and property assets. The demerger was achieved through a High Court approved scheme of arrangement.  All Scales shareholders now have an equal number of shares in the operating company - Scales Corporation Limited and in the investment and property company - George H Investments Limited.  From 1 May 2014, the two companies will be operated independently with separate corporate governance processes.

In conjunction with the demerger, on 20 May 2014 Scales will be making a return of capital to Scales' shareholders of $0.27 per share.  This represents a 13% return on invested capital in Scales Corporation Limited. For Pohutukawa II shareholders this means a return of capital of just over $1 million, or 1.25 cps.


17 April 2014

New Zealand King Salmon Supreme Court ruling means yes to 150 green jobs

The Supreme Court of New Zealand has given the green light for three out of four new salmon farms in Marlborough. The new farms represent the first new space to be allocated for salmon for over twenty years.

New Zealand King Salmon CEO Grant Rosewarne says having a final decision is a relief to staff and management despite the disappointment over losing one of the farms. He says "We are pleased to finally have some certainty after three years of legal process. The decision enables us to bring economic benefits to the region while operating in an environmentally sustainable manner.” 

Please read the full NZKS announcement here.



14 April 2014

Transaction Services acquires UK direct-debit company Harlands Group

New Zealand-based e-commerce Company continues its stellar growth

Transaction Services Group (TSG), Australasia's leading payment solution provider comprising Debitsuccess, FFA Paysmart and DFC, announced today that it has acquired United Kingdom based direct debit billing provider Harlands Group (www.harlandsgroup.co.uk), further expanding the company's international operations.

Please read the TSG announcement here.



21 March 2014

Strategic alliance between Augusta Capital & Bayleys

Augusta Capital issued an announcement to the  NZX on Friday 21 March 2014.

Augusta Capital has acquired the property syndication and funds management business of KCL Property Ltd. Augusta has simultaneously purchased the property syndication business of Bayley Corporation Ltd (Investment Property Titles Ltd).  A strategic alliance between Augusta and Bayleys will see Bayleys provide property and facilities management services to the property portfolio. Augusta in conjunction with Bayleys will look to offer a range of new property funds to the market on a 50:50 joint venture co-branded basis, leveraging Bayleys nationwide network of 70 branches and 1,300 personnel.

 The full NZX announcement can be read here.


12 March 2014

Demerger of Scales Group

A demerger proposal has been presented to Scales Shareholders. The proposal involves the demerger of George H Invesments Ltd from Scales Corporation Ltd, essentially separating out the core operating divisions from the investment assets.

The Chairman's letter contained in the Information Memorandum dated 4 February 2014 states -

"The rationalisation and simplification of Scales Corporation Ltd's operating activities in this way is viewed as an important precursor should Scales Corporation Ltd decide in the future to seek a stock market listing on NZX or an alternative exchange."

Scales Corporation’s shareholders on the Record Date (28 March 2014) will  receive a cash distribution (by way of return of capital) of 27 cents per existing share,plus one share in George H Invesments Ltd for every share held in Scales.

A special shareholders meeting was held on 20 February 2014 where shareholders voted in favour of the demerger proposal.

A High Court decision for the approval of the scheme of arrangement for the proposal is expected 13 March 2014.

The targeted completion date for the demerger is 31 March 2014 but this isdependent on the IRD binding ruling which Scales has applied for. The ruling seeks to confirm that the proposed distribution will not taxble as a dividend in the hands of Scale's shareholders.

You can read the full Information Memorandum here.



Direct Capital & Pohutukawa II invests in Energyworks Limited 10 February 2014

Direct Capital IV together with Pohutukawa Private Equity II has announced the completion of an investment in Taranaki-based, Energyworks Limited, New Zealand’s leading provider of mechanical services to the onshore oil and gas, power generation and petrochemical industry.

Direct Capital IV and Pohutukawa II have acquired a 70% shareholding in the company. Pohutukawa II’s shareholding is 16.7%.

Please read the Energyworks announcement.