Wool Equities looks at quitting NZX

Wool Equities says it is looking at quitting its NZX listing in favour of a cheaper exchange. It said yesterday that it had a net loss of $2.3 million in the six months to December against a $373,000 profit a year ago.

Chairman Andy Pearce said the company was looking at several ways of raising new capital. Now all legal actions relating to the old Wool Board were settled, distribution of the remaining funds held by DisCo (Wool Board Disestablishment Company) could start.

He said the board felt all eligible non-merino growers should get cash from this distribution, unless they elected to receive additional Wool Equities shares.

- NZPA