Brierley Investments

Brierley Investments Limited (BIL) was established by New Zealand investment veteran Sir Ron Brierley in 1961[1] and in 1985 listed on stock exchanges in Australia, United Kingdom, and New Zealand (Australian Securities Exchange (ASX), London Stock Exchange (LSE), New Zealand Exchange (NZSX)). It grew to become one of the biggest – and for a time most successful and glamorous – companies in the 1980s. At its peak about 150,000 New Zealanders were BIL shareholders.[2]

In the 1980s BIL was a feared corporate raider[3] in Australia and Britain, but the firm stumbled after the 1987 sharemarket crash, and Brierley was eventually deposed in a boardroom coup. In the 1990s the firm's investments were poor, it mismanaged its foreign-exchange risk, and its balance sheet suffered. In 1998–99 the firm moved its head office to Singapore and listed on the Singapore Exchange (SGX). In June 2000, BIL's listed investments had a total market value of US$1.01858 billion, including 46% of Thistle Hotels plc; 30% of Air New Zealand; and 29% of James Hardie Industries.[1]

On 1 November 2007, the registered name BIL International Ltd changed to GuocoLeisure Ltd, and the issuer code changed from BRY to GLL.[4] In 2013, due to a low volume of trading, GLL's board resolved to delist from the NZX, and dissolve the company.[5]

Further to its announcement dated 25 November 2013, GuocoLeisure Limited wishes to announce that its inactive wholly owned subsidiary, BIL Asia Group Treasury Limited, a company incorporated in the British Virgin Islands which was placed under members’ voluntary liquidation, has been dissolved.

The last day of trading of the shares on the NZX was 24 June 2014.[2]

References
  1. "Brierley Investments Limited (BRY)". intelligentinvestor.com.au. Archived from the original on 26 February 2014. Retrieved 20 February 2014.
  2. Van Den Bergh, Roeland. "Remnants of Empire fade away". stuff.co.nz. Fairfax media. Retrieved 20 February 2014.
  3. "Brierley Investments: Grounded". The Economist. The Economist Group. Retrieved 20 February 2014.
  4. "GuocoLeisure Limited (GLL) Analysis". NZX Main Board. NZX Limited. Archived from the original on 20 February 2014. Retrieved 20 February 2014.
  5. "GLL/announcements". NZX Main Board. NZX Limited. Archived from the original on 20 February 2014. Retrieved 20 February 2014.


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