INDEPENDENT NEWS

Te Kairanga Wines Joins Unlisted

Published: Sat 17 Nov 2007 03:13 PM
Unlisted Manager Bruce Cossill today announced that Te Kairanga Wines Limited will become the 24th issuer and 27th security currently quoted on Unlisted.
Mr Cossill said “We are delighted to welcome Te Kairanga Wines Limited to the Unlisted securities trading facility.  Te Kairanga becomes the third vineyard quoted, joining Terra Vitae Vineyards and Martinborough Vineyard Estates.  Te Kairanga ordinary shares will be quoted and traded on Unlisted from next Monday 19 November using the stock code TEKAIRANGA.
“Recent Unlisted issuer activity has included Syft Technologies’ rights offer and the addition of Syft Warrants to the facility, and Martinborough Vineyard Estates’ and Rural Equities’ announcements of impending rights issues.  The addition of Te Kairanga Wines provides further confirmation of the range of benefits available to Unlisted issuers by becoming publicly quoted and traded.
“Since its launch in December 2003 Unlisted has transacted over 6,000 trades of 109 million shares worth $114 million. The aggregate market capitalisation of all securities quoted on Unlisted is now above the $1 billion mark.  Strong and growing trading volumes and values illustrate Unlisted’s ongoing contribution to the New Zealand capital markets, showing Unlisted continues to provide reliable price transparency, liquidity and choice.
“We will continue to market the facility to corporate advisors, brokers and company directors as a real option to be considered when companies think about the securities trading environment they want to provide their shareholders. Discussions are continuing with other potential issuers who are currently considering their trading arrangements, and we expect to be able to make further announcements in the near future.”
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