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Further to WPQ 10386/24 and WPQ 5540/24, why has the ultimate holding of Pamu in Spring Sheep Dairy NZ Limited Partnership increased to 53%?

Answered Question 1216 (2026)
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Asked by

Duncan Webb

Member for Christchurch Central · Labour Party

Question

  • Further to WPQ 10386/24 and WPQ 5540/24, why has the ultimate holding of Pamu in Spring Sheep Dairy NZ Limited Partnership increased to 53%?

Answered by

Hon Simeon Brown

Member for Pakuranga · National Party · Minister for State Owned Enterprises

Answer

Landcorp advises me that Spring Sheep raised working capital through a shareholder rights issue, underwritten by Landcorp (as the largest shareholder) to provide certainty of raising the required capital. The outcome of the rights issue was a small increase in Landcorp’s shareholding in the company (50 per cent to 53 per cent).