Shares in skiing offered

Waimarino Bulletin, Volume 4, Issue 39, 17 March 1987, Page 5

Shares in skiing offered

At a press conference held in Ohakune last week Tony Wright, of Turoa Skifields, introduced a new company — New Zealand Ski Fields Limited, which will be based in Ohakune. New Zealand Ski Fields Limited has applied for a listing on the New Zealand Stock Exchange, and is offering up to two million shares in the company which would result in the public owning up to 25% of the company. The shares are being offered to Carter Holt Harvey Limited shareholders.

known patrons of Turoa Skifields, and clients of Francis Allison Symes and Co. (the organising brokers). Holders of certain minimum shareholdings may be entitled to specified skifield benefits such as valet car parking and the use of a hospitality lounge on the skifield. The board of the new company includes Mr W. J. Whineray (chairman) who is chief executive of the AH1 Group, Sir Andrew Grimwade (deputy chairman), an Australian businessman who is described as having a long association with skiing in New Zealand and Australia, and Mr Tony Wright who most readers will know has been involved with Turoa skifields since its ineeption in 1974. The anticipated capital

structure of the company after the placement of the shares will be made up of 25% public ownership, 6.3% Turoa staff ownership, AHI Group Limited 15.6%, Turoa Holdings Limited 31.2%, and Skifield Investments Limited 21.9%. The prospectus was registered on 1 1 March and the placement of the shares, priced at $1.25 each, will open at 9.00am on 2 April and close at 5.00pm the same day. One of the aims of the offer is to obtain a wide spread of shareholding, according to the prospectus. After the introduction by Mr Wright and a lunch put on at the Hobbit restaurant the 20 or more journalists were taken on a tour of the skifield and Ohakune to view the development work being undertaken.