‹ Back to All Infratil News
Infratil Shareholder Changes
12 Jul 2011
Infratil’s largest shareholder, Utilico Investments Limited, has sold 15 million of its shares in Infratil to a US institutional investor at $1.80. Marko Bogoievski, CEO of Infratil, said: "We have been working to lift the profile of Infratil to investors outside New Zealand as we believe it is important for the Company to diversify its capital base. While this transaction is a transfer of shares between offshore holders, it is a positive signal to have a significant new offshore investor on Infratil’s register.”
Utilico also announced that it had agreed to sell a further 15 million Infratil shares to H.R.L. Morrison & Co at $1.85. This transaction will be subject to shareholder approval under rule 7(c) of the Takeovers Code at Infratil’s Annual Meeting to be held on 15 August 2011. Lloyd Morrison, Chairman of H.R.L. Morrison & Co, said: "This is a great opportunity for Morrison & Co to increase its shareholding in Infratil based on our belief in Infratil's positive outlook."
In aggregate the transactions, if approved, would result in 77% of Infratil being New Zealand owned, including 12% by H.R.L. Morrison & Co and Principals. Utilico’s shareholding moves from 18.6% to 13.7%.
CEO – Infratil Limited