NZX Announcement - 7 April 2017
The Board of Bethunes Investments Limited (BIL) met today to review the past
year. KPMG our auditors have started work on the annual audit and the
Directors expect to issue BIL''s audited results to shareholders before the
end of May 2017.
In an effort to lower costs for the year ahead, the Board has today appointed
Christopher Swasbrook - Chairman of BIL with additional executive
responsibilities. This arrangement ceases: (i) a director''s fee paid to Mr.
Swasbrook last year; and (ii) the contract with Elevation Capital Management
Limited for analytical services. The company has two investment ideas
developed by Elevation Capital and Mr. Swasbrook that it is currently
exploring outside of the announced reverse listing of New Zealand Retail
Property Group (NZRPG).
As indicated previously, the company will require additional capital to
execute on any future investments and shareholders can expect to receive an
update at the Annual Shareholder Meeting (ASM), which is expected to coincide
with a Special Meeting for the NZRPG transaction.
Ends.
Aaron Titter
Independent Director
End CA:00299604 For:BIT Type:GENERAL Time:2017-04-07 13:10:28