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Home / New Zealand

Trust scoops $33.6m from TradeMe sale

By MARLENE DITCHFIELD
Wairarapa Times-Age·
14 Mar, 2006 04:00 AM2 mins to read

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Two Masterton sisters appear among the names of new multi-millionaires in New Zealand with the sale of the online auction site, TradeMe.
However, they and their families remain tight lipped about their newfound wealth, their share value following the sale being $33.6m.
Listed among the shareholders who score from the TradeMe sale
are Sharon Weaver (with Neil Bryant and Susan Rutene). They are trustees of the Weaver-Bryant Family Trust and together held 4.8 per cent of the TradeMe shares.
Sharon and Susan are sisters with their parents Isobelle and Barry Weaver living in Masterton.
Susan Rutene was contacted at her work in Masterton by the Times Age, but immediately learning it was the media she said "no comment."
Asked to simply confirm she was the Susan Rutene mentioned amongst the TradeMe shareholders, she said all comment regarding shareholders had to come from TradeMe's founder, Sam Morgan.
Mrs Rutene is listed in the electoral roll as an office manager from Tawa Street in Masterton.
Her parents, who live nearby in Lansdowne also indicated they would not comment.
When asked if their other daughter, Sharon would speak to the Times-Age, Mrs Weaver said she knew she would also not speak out.
The Weaver-Bryant Trust's contact address is c/-Movac, an IT consultancy in Featherston Street, Wellington.
Phil McCaw, a director of Movac, has described his job in the past as partnering money with talented people. He recruited Sam Morgan to Movac after he dropped out of university in the 1990s.
Mcaw held a 10.5per cent stake in TradeMe along with Anne Forsyth. That stake is now worth $73.36m.
Richard Abbott, a director since 2002 and also chairman of Movac, held a 10.4 per cent stake with Gillian Newland, which is worth $73.1m.
Other directors also now multi-millionaires are Mark Richter (with Fiona Richter holding 9.18 per cent worth $64.3m), Sharon Weaver (with Neil Bryant and Susan Rutene holding 4.8 per cent worth $33.6m) and Ian Miller (holding 1.9 per cent for $13.4m.
But the biggest winner outside Sam Morgan is Trade Me product manager and long time friend of Sam, Nigel Stanford, and his sister Susan Stanford.
Their 11.5 per cent stake is worth $80.94m.

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