Chairman resigns after vote on forest sale
Shareholder vote fails to reach 75% trigger for $13.6m deal.
Shareholders in a forestry investment firm whose splintered board censored its chairman’s report ahead of a crucial vote have narrowly rejected the $13.6 million transaction.
Samnic Forest Management, set up in 1993 as a structure for investment in a Gisborne pine plantation, was considering
Want to read more? It's easy.
Choose your best value subscription option
Individual
Group membership
NBR Marketplace
Yearly Premium Online Subscription
NZ$499.00 / yearly
Monthly Premium Online Subscription
NZ$44.95 / monthly
Smartphone Only Subscription
NZ$24.95 / monthly
Premium Group Membership 10 Users
NZ$350+GST / monthly
$35 per user - Pay by monthly credit card debitPremium Group Membership 20 Users
NZ$600+GST / monthly
$30 per user - Pay by monthly credit card debitPremium Group Membership 50 Users
NZ$1250+GST / monthly
$25 per user - Pay by monthly credit card debitPremium Group Membership 100 Users
NZ$1875+GST / monthly
$18.75 per user - Pay by monthly credit card debitYearly Premium Online Subscription + NBR Marketplace
NZ$499.00 / yearly
Already have an account? Login
Tim Hunter
Fri, 11 Dec 2015
Fri, 11 Dec 2015
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
Chairman resigns after vote on forest sale
54258