Waste management firm WasteCo Holdings is set to debut on the NZX tomorrow after a reverse listing through the listed shell company, Goodwood Capital.
At a special meeting today, Goodwood Capital sought and gained shareholder approval for the implementation of a capital restructure which had been negotiated and endorsed by the board and announced to the market on April 26.
WasteCo, through its wholly owned subsidiaries, owns and operates a range of business activities associated with waste and refuse collection, recycling and disposal, street cleaning, and other industrial services in the South Island.
The company said its business operations were profitable and were experiencing year-on-year growth.
The restructure effectively values the equity of the WasteCo business at $25.2 million, plus an additional $4m to redeem the mandatory convertible notes recently issued by WasteCo.