30 Jan 2015

Correction regarding Pyne Gould

10:19 pm on 30 January 2015

Radio New Zealand wishes to correct the item it published on Friday in the Midday Business News relating to Pyne Gould Corporation and Perpetual Trust Ltd.

In that story, we stated that the sale of Perpetual Trust Ltd by Pyne Gould Corporation had failed, that Perpetual Trust was back on the market and that there had been a default in payment by the purchasers.

This was not correct.

Bath Street Capital (now Perpetual Guardian Holdings Limited) remains the majority shareholder of Perpetual Trust and Andrew Barnes remains the ultimate majority shareholder.

Radio New Zealand regrets its error and apologises to Bath Street Capital, Mr Barnes and Pyne Gould Corporation.