By Nick Stride
Friday 10th November 2000 |
Text too small? |
WPL, which will trade on the unofficial Unlisted Securities Market made by Stock Exchange member firms, is chaired by Ms Sanders, a former business editor of Wellington's Evening Post. Its 46 current shareholders include Tower chairman Colin Beyer.
The company was formed in 1989 and invests in "relatively high-risk, second-line stocks both locally and internationally."
Its current shareholdings are Tag Pacific, Telemedia Group, and Olympus Pacific Mineral.
The prospectus says the average annual growth in asset backing since formation has been 21.05%. However, an accompanying graph shows net assets rose by only around 50% until March last year, after which they took off. The gain is now around 650%.
Investment management is supplied by Ms Sanders' partner, Chris Castle, whose Sandcastle Trust owns 19% of the company, and Jill Hatchwell, who owns 2.8%.
WPL reinvests all dividend income and capital gains and ha a no-debt policy. Shareholders' funds are 1.53 million and net assets at October 4 were $3 million.
No comments yet
AFT - NEW YEAR LETTER TO INVESTORS
TruScreen Invited to Present WHO AI Collaboration Meeting
January 13th Morning Report
January 10th Morning Report
January 9th Morning Report
FCG - Migration to NZX Main Board
FSF - Application to delist FSF from ASX has been submitted
January 8th Morning Report
SUM - 4Q24 Metrics - Sales of Occupation Rights
January 6th Morning Report