Posts tagged "PGW"

PGG Wrightson shareholders vote to sell

[30 October/Stuff Business] PGG Wrightson’s shareholders have voted 96.9% in favour of selling the Group’s seed division to Danish company, DLF Seeds. The sale will see the company receive around $413 million, of which $292 million will be paid out to shareholders. Company deputy chairman, Trevor Burt, said that the PGW will remain a sustainable...

Shareholders Association voting against PGG Wrightson’s $421 million deal

[23 October/NZ Herald] The New Zealand Shareholders’ Association has said that it will vote against the deal to sell PGG Wrightson’s seed division to DLF Seeds, a Danish co-operative.  While the lobby group recognises that the offer is attractive at face value, particularly given the $292 million capital return it will trigger, it notes the...

Strong first half from PGG Wrightson

[28 February/Otago Daily Times] PGG Wrightson had posted its best first-half EBITDA result in a decade, and PGW Chairman, Alan Lai, said that he expected the strength to continue, forecasting operating EBITDA to exceed 2017’s result and be in the $65 to $70 million range. An interim dividend of 1.75c per share was announced to...

Overseas Investment Office investigates PGG Wrightson owner Agria’s ‘good character’

[11 January/ NZ Farmer] The OIO has confirmed that it is investigating whether Agria, the 50.22% owner of PGG Wrightson, is off good character given its delisting by the New York Stock Exchange, the company’s public statements that it had received subpoenas from the US Securities and Exchange Commission and allegations made against the company...

Weather hits PGW’s profit results

[9 August/ NZ Herald] PGG Wrightson Chairman Alan Lai said the company’s full-year profit was very positive. PGG Wrightson announced operating earnings before interest, tax, depreciation and amortisation of $64.5 million for the year to June, down $5.7 million on last year’s figure. After-tax net profit was $46.3 million, up from $43.8 million the previous...