In October 2016 the Hill family trust, Hoglett Hamlet, sold 10 per cent of its stake – 16 million shares – in MHI for $25.6 million. However, it stays the company’s largest shareholder, proudly owning 38 per cent of the corporate. At the time, 60 per cent of its stores had been in Australia and more than eighty per cent of MHI’s income and profits have been generated outside of New Zealand. However, even the buy-back program was saddled with strict conditions, including that retailers would be charged a dealing with charge. The over-stocking problem increased to such an extent… Read more