Renaissance shareholders cash in

TOM PULLAR-STRECKER
Last updated 10:41 19/08/2014

Relevant offers

Industries

Strike action at Warehouse Rotorua and Bunnings Mt Maunganui Positive week's end for NZ dollar but less so for NZX 50 Hawke's Bay Seafoods says it is co-operating with investigation IAG chief Jacki Johnson is New Zealand's top dollar executive Lower Hutt company fined after worker loses four fingers Market crash, not natural disasters, biggest threat to economy Shareholders are spurning Briscoe's takeover offer, says Kathmandu Dairy goat infant formula and waterproof roads get Government cash Inland Revenue hopes to get politics out of its $1b-plus overhaul NakedBus NZ liquidation application filed by Go Bus

Renaissance will delist from the NZX on Friday week after an agreement by shareholders to liquidate the company and return its capital to investors.

The company expects to pay out about 16.6 cents a share, tax-free, with 13c payable in five weeks and the balance after its liquidation.

Renaissance had its heyday when it was distributing Apple products on fat margins during Apple's boom between 2004 and 2006, but it never fully recovered from the loss of its exclusive distributorship status at the end of that period.

A foray into retailing through its chain of YooBee stores proved unprofitable and it sold the other leg of its business, tertiary education provider NatColl, which it had renamed the Yoobee School of Design, in February.

Ad Feedback

- Stuff

Special offers

Featured Promotions

Sponsored Content