12 Aug 2010

Bond extension approved

11:47 am on 12 August 2010

Nearly 90% of bondholders in PGG Wrightson Finance have approved a proposal to extend $100 million worth of bonds for another year.

The proposal, which needed 75% approval, was passed at a special meeting in Christchurch on Thursday.

An earlier meeting last month had to be postponed because not enough bondholders attended.

At least half of bondholders were required to be present.