23 Apr 2015

Business briefs

2:02 pm on 23 April 2015

A round-up from Radio New Zealand's business reporters, including Reserve Bank appointments, GeoOp doubles its licenced users and the sale of 20 million Trustpower shares.

Reserve Bank announces appointments

The Reserve Bank has appointed Conor English and Tony Caughey as part-time monetary policy advisers.

They will help the central bank's governing committee set the official cash rate.

Mr English, who is Finance Minister Bill English's brother, is the chairman of Agribusiness New Zealand.

Mr Caughey is a company director and strategy consultant.

GeoOp doubles licenced users

GeoOp said it has nearly doubled the number of licenced users to 17,839 over the year to March.

The software company said last month's subscriptions had also doubled, reaching $1.27 million on an annualised basis, compared with $610,000 the year earlier.

The company's share price rose 11 percent this morning, following the announcement.

Tauranga Energy Trust sells 20m Trustpower shares

Tauranga Energy Consumer Trust is selling 20 million of its shares in Trustpower.

Trustpower's shares have been placed in a trading halt, pending the completion of the sale, which is expected to be completed today.