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Shares climb for New Zealand tonic company
Shares in East Imperial, the New Zealand-based maker of ultra-premium mixers have soared by 40% on the London market in the past 24 hours.
This morning, investment house Taylor Partners informed the London Stock Exchange that it no longer has a holding in East Imperial. Taylor had been steadily selling a large tranche of shares in recent weeks.
Meanwhile, Mr David Dawson, a British private investor, has increased his stake in the company to 4.94%, giving it further impetus and confidence following its recent raising of extra working capital through Wen Hua International, which distributes the company’s products in Macau and mainland China.
Tony Burt, the founder and chief executive of East Imperial, said: “Since we announced a General Meeting to approve a new strategic partner and new funding back in July, we are pleased to announce a significant change in the shareholder register with the departure of an activist shareholder.
“We’re pleased to see this latest announcement and believe we’re moving towards a more supportive, long-term-oriented shareholder base who share our vision of East Imperial and believe in the brand’s potential.
“We anticipate other meaningful changes before year-end and will release news of these as appropriate.
“This is a great day for East Imperial, its employees, customers and shareholders.”
East Imperial intends to use the new working capital to further expand its market in the US, especially in the high-end on-trade, and in China and the Far East.
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