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Article: PGGW shares on roll - analysts; PGG WRIGHTSON
- Article from:
- The Press
- Article date:
- May 6, 2009
- Author:
CopyrightCopyright 2009 The Press. Provided by ProQuest LLC. (Hide copyright information)
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PGG Wrightson shares are riding higher on a commodity price
rebound, its settlement of a dispute with Silver Fern Farms and the
return of retail investors to the equity market.
PGGW shares have also been helped by a more positive view on the
rural services firm by brokers, with one picking further price
appreciation.
Further share gains will make it more likely that South
Canterbury Finance will choose to convert a $25 million debt
facility provided to PGGW into shares.
SCF chief executive Lachie McLeod has been non-committal about
whether a conversion will take place, while chairman Allan Hubbard,
who okayed the loan, has reportedly said SCF would not convert if
PGGW shares went down to ...