29 Aug 2013

Mowbray Collectables seeks to justify its NZX listing

1:40 pm on 29 August 2013

Stamps, coins and fine arts dealer, Mowbray Collectables, told its annual meeting of shareholders the company's market capitalisation will have to grow to justify the company remaining listed on the NZX.

Mowbray's current market capitalisation is just $5.6 million.

Managing director John Mowbray says that hopefully, even in these uncertain times, the opportunities the board perceives will transpire and he is excited about the immediate future.

He says among other growth plans, his company intends to buy the 51% of the Webb's arts business it doesn't already own by exercising the option it gained when it first invested in Webb's 10 years ago.