1216 (2026). Hon Dr Duncan Webb to the Minister for State Owned Enterprises

1216 (2026). Hon Dr Duncan Webb to the Minister for State Owned Enterprises: Further to WPQ 10386/24 and WPQ 5540/24, why has the ultimate holding of Pamu in Spring Sheep Dairy NZ Limited Partnership increased to 53%?

Hon Simeon Brown: Landcorp advises me that Spring Sheep raised working capital through a shareholder rights issue, underwritten by Landcorp (as the largest shareholder) to provide certainty of raising the required capital. The outcome of the rights issue was a small increase in Landcorp’s shareholding in the company (50 per cent to 53 per cent).