Press Release 21 April 2004
Investment company Colville Equities to raise up to $75m.
Colville Equities Limited (“Colville”) announced today that it is proposing to make an offer of shares and options to
the public. Colville will operate as an actively managed investment company with a primary focus on NZX-listed
securities and a secondary focus on NZ unlisted investments which are expected to list within two years and ASX-listed
companies with business interests in New Zealand.
Colville will seek subscriptions of $50 million with the right to accept over- subscriptions of up to $25 million.
Shares will be offered at $1 per share and investors will be granted a one-for-two transferable option to acquire
additional shares, also at $1 per share, in two years’ time.
Colville will have a management agreement with Milford Asset Management Limited under which Milford will manage Colville
and its investment portfolio.
It is expected that the combined prospectus and investment statement will be available mid-May 2004. No money is
currently being sought and no applications for shares or options will be accepted or money received unless the applicant
has received an investment statement.
ENDS