27 Mar 2015

Business Briefs

2:36 pm on 27 March 2015

A round-up from Radio New Zealand's business reporters - including NZOG's Cue Energy takeover bid gains acceptance and ikeGPS experiences significant growth.

NZOG gains more acceptances for takeover bid

New Zealand Oil & Gas is continuing to gain more acceptances in its takeover bid for Cue Energy.

The oil explorer, which is offering 10 Australian cents a share, has 45.5 percent of Cue, which is listed on Australia's stock exchange.

Cue's board had recommended shareholders reject the offer as too low.

The offer closes today.

ikeGPS experiences growth

The technology firm, ikeGPS said it is experiencing significant growth within the $US15 billion sign and banner industry in the United States.

The company said signage professionals are using its laser Smartphone measurement tool, Spike, to get measurements for the placement of a new sign, or to replace an existing one.

It said international airports, shopping malls and convention centres are also adopting its Spike product.

Kidicorp ownership transfer 'on the cards'

Kidicorp co-founder Wayne Wright said transferring the multi-million-dollar early childhood education company to the ownership of a charity has been on the cards for some time.

Mr Wright and his wife and fellow co-owner, Chloe, announced the change this week.

He said Kidicorp has changed from a for-profit company owned by a family trust, to a not-for-profit, owned by registered charity - the Wright Family Foundation.

It has also changed its name to Best Start.