Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.

New Zealand Superannuation Fund buys New Zealand Post shares on Datacom Group
Posted on 17-Dec-2012 09:09. | Tags Filed under: News.



Datacom Group Ltd has announced the New Zealand Superannuation Fund (NZSF) will be purchasing the shareholding in Datacom currently held by New Zealand Post.

New Zealand Post has been a shareholder in Datacom since 1990 and until the approval of this one-off transaction has held 35% of Datacom’s ordinary shares.

Datacom Board Chairman John Holdsworth says, “We welcome New Zealand Superannuation Fund to the Datacom Group and the Datacom Board.

We’re a New Zealand owned technology services company and long term IT sector innovators and we look forward to a productive partnership with NZSF. We welcome the energy and in-market expertise that this organization will bring to our board and the wider Datacom Group.

We thank NZ Post for their long-standing commitment and acknowledge our ongoing, productive working relationships.”

Brian Roche, CEO of New Zealand Post, says, "New Zealand Post has enjoyed a long and successful partnership with Datacom. The divestment of our shareholding is driven by broader strategic demands of the New Zealand Post Group. We are a significant customer of Datacom and look forward to an on-going strong business relationship.”

New Zealand Post has enjoyed significant returns over this partnership of twenty two years that has seen the Datacom Group show a 10 year compound annual growth rate of 14% for revenue and 10% for profit.

John Holdsworth, “Datacom is a 47 year old business and we’ve maintained an unbroken track record of delivery and market share growth. This shareholder change signals an opportunity for our next phase of strategic advancement in the IT sector and across our Australasian geographies.”

The shareholding of Datacom’s major shareholder Evander Management Ltd, the family company of Chairman John Holdsworth, will remain unchanged.


comments powered by Disqus


Trending now »

Hot discussions in our forums right now:

So, how about that budget?
Created by BlueShift, last reply by MikeB4 on 22-May-2015 23:02 (67 replies)
Pages... 3 4 5


Changing of our flag , Yes or No.
Created by Presso, last reply by mattwnz on 24-May-2015 00:16 (121 replies)
Pages... 7 8 9


Mortgage interest rates
Created by Regs, last reply by mattwnz on 22-May-2015 18:20 (23 replies)
Pages... 2


5 idiots and counting...
Created by frankv, last reply by Sideface on 22-May-2015 20:55 (20 replies)
Pages... 2


Wanting a virtual cell phone for iOS and desktop, looking at 2Talk, but SMS costs and functionality unclear.
Created by Baboon, last reply by richms on 23-May-2015 04:17 (38 replies)
Pages... 2 3


Sky Price increases
Created by l43a2, last reply by grant_k on 20-May-2015 21:29 (146 replies)
Pages... 8 9 10


VDSL Slowdown - Spark unhelpful!
Created by Chrisclarke, last reply by Sideface on 20-May-2015 17:00 (15 replies)

Upgrading CPU: need some advice?
Created by kiwis, last reply by Lias on 22-May-2015 19:43 (39 replies)
Pages... 2 3