The Commerce Commission has received a clearance application from Kegstar New Zealand Limited to acquire kegs, beacons attached to those kegs or held in inventory, and New Zealand keg records, from Konvoy New Zealand LimitedKegstar and Konvoy both supply beer kegs to breweries on a rental basis, as well as providing logistics services. Kegstar is owned by MicroStar Logistics, LLC which operates a keg services business across Australia, New Zealand, Europe and the US. Konvoy is owned by Konvoy Holdings Pty Limited, which operates a keg services business in Australia and New Zealand. Konvoy was placed into receivership in March 2025 and went into liquidation on 30 May 2025. A public version of the clearance application will be available shortly on the Commission’s case register.
Source: https://comcom.govt.nz/
AgriZeroNZ has invested US $3.5 million (NZ $6.3 million) in biotech company BiomEdit to accelerate its development of a probiotic-based feed additive to enhance productivity and reduce methane emissions from dairy cows.
The public-private partnership’s latest investment follows recent backing of two other companies developing probiotic-based solutions: Hoofprint Biome Inc (US) and Bovotica (Australia).
AgriZeroNZ chief executive Wayne McNee says probiotic solutions are an important part of its expanding investment portfolio, which also includes a bolus, vaccines, inhibitors and pasture.
“We’re investing in local and global companies to give us the best chance of providing New Zealand farmers with access to a range of affordable, effective mitigation solutions to choose from.”
McNee says early investment in global companies ensures products are developed for pasture-based systems and making those tools available in New Zealand, which is a relatively small market on a global scale, is a priority.
“Probiotics are of particular interest to us because they’re naturally occurring and have the potential to deliver a productivity benefit alongside a methane reduction – benefits that are likely to be powerful drawcards for farmer uptake.”
Indiana-based BiomEdit are specialists in microbial discovery to address major challenges in animal health.
Their unique scientific approach identifies microbes that improve an animal’s health and performance, which enables development of probiotics to effectively feed these beneficial microbes to animals.
“BiomEdit’s team is highly experienced with proven ability to take a product from discovery to commercialisation. We’re pleased to support them to leverage this expertise to help Kiwi farmers reduce methane emissions without compromising productivity and profitability.”
Wayne McNee, AgriZeroNZ chief executive
BiomEdit CEO, Aaron Schacht, says their approach enables them to ‘make life difficult for methanogens’, the methane-forming microbes ruminant animals produce in their rumen while they digest their food.
“We’ve discovered naturally occurring microbes that inhibit methanogen activity and simultaneously increase production by repurposing that energy to improve rumen function.
“Our early lab trials have shown promising results and this support from AgriZeroNZ will help us continue to test and refine the product to ensure its long-lasting enough to be effective in grazing systems and, importantly, safe for cattle.”
Animal trials are currently underway in the US, with plans to do larger-scale trials in New Zealand later this year.
Schacht says they’re targeting a 30% reduction in methane emissions from its natural probiotic, and future products could see a 50% reduction with the use of engineered probiotics.
“To improve the methane-inhibiting properties of the naturally occurring microbes, we’re exploring how we can engineer certain strains to express safe molecules – either peptides or proteins – that directly target methanogens. The goal would be even greater levels of enteric methane reduction and higher performance.”
While BiomEdit’s natural probiotic should have a straightforward pathway to get regulatory approval in New Zealand, McNee notes the process for any future engineered products will be dependent on the outcome of the Gene Technology Bill.
“With global markets starting to demand lower-emissions products, cutting-edge innovations could be the solution to help New Zealand farmers stay ahead, meet those expectations, and keep delivering high-quality food.”
AgriZeroNZ’s investment was part of BiomEdit’s Series B funding round which raised more than US $18 million. It was led by Anterra Capital, with follow-on investment from Nutreco and new participation from Indiana’s Elevate Ventures, and Betagro among others.
Source: https://www.agrizero.nz/
One of New Zealand’s most prominent investment firms has made a US$1 billion ($1.7b) investment linked to one of the largest technology infrastructure projects in the world – OpenAI’s US$500b Project Stargate.
Morrison, the firm that manages Infratil, acquired an American underground fibre cable company called FiberLight in 2022, but its connection to the project was not known until now.
“FiberLight, being a Texas-based network, has been supporting the Stargate initiative from a backbone standpoint,” Morrison executive director Robert Huang told Markets with Madison at its office in New York.
“We’re really excited to be a part of all of that.”
FiberLight had 32,000km of cabling underground in Virginia and Texas, cities where some of the largest clusters of data centre compute were being built to power artificial intelligence.
“If you were to replace that network, conduit by conduit, strand by strand, it would probably cost you about US$3b today.”
Stargate was a new company set up by OpenAI, Softbank, Oracle and MGX this year to build critical infrastructure required to train and power AI models such as ChatGPT, which absorbed enormous amounts of compute.
Its first investment was under way in Abilene, Texas.
Meta CEO Mark Zuckerberg announced his company would also spend hundreds of millions of US dollars to build its own infrastructure as it raced to catch up to leading AI players OpenAI, Anthropic and Google.
“My hope is that the trend will continue for at least five years,” Huang said of the investment cycle.
In today’s episode of Markets with Madison above, he explains how and why Morrison is investing in all aspects of AI infrastructure – and if it’s too late to make big returns.
Madison Malone travelled to the United States with support from the NZUS Council Media Fellowship programme. The council is committed to advancing New Zealand’s shared interests with the United States. Find out more about the NZUS Council here.
Source: https://www.nzherald.co.nz/
Blackpearl Group Limited (NZX: BPG) has entered into a conditional agreement to acquire 100% of the shares in B2B Rocket Inc, a US-based AI sales automation company. B2B Rocket (www.b2brocket.ai) specialises in automating outbound sales processes for small to mid-sized businesses using AI-powered agents that generate, qualify, and engage leads on behalf of customers. With approximately US$2.1 million (NZ$3.4 million) in annual recurring revenue (ARR), the business has already achieved product market fit and continues to scale rapidly across the US SMB segment. Blackpearl CEO Nick Lissette said B2B Rocket is a compelling and immediately synergistic addition to the group. “B2B Rocket’s agentic technology is a perfect fit alongside both Pearl Diver and Bebop. I’ve personally sat in on customer demos for Pearl Diver where we’ve been asked, ‘Can you integrate with B2B Rocket?’ Leveraging AI agents for customer outreach – across email, LinkedIn, and AI-driven phone calls – opens up new, ultra-affordable channels to help our customers find more customers. B2B Rocket is experiencing impressive growth on its own. With the integration of Blackpearl Group’s proprietary data engine, the Pearl Engine, we see a clear opportunity to act as a force multiplier to further accelerate that momentum. Coupled with cross-sell opportunities, this is a classic 1 + 1 = 3.” Under the terms of the agreement, the consideration payable includes a completion payment of US$4 million in cash and 1.725 million BPG shares In addition, the agreement includes performance-based payments of up to US$8 million over five years, including up to US$2.5 million in BPG shares (issued at the prevailing market price of BPG shares). The payments are linked to B2B Rocket hitting defined revenue milestones and are structured to reward sustained performance through to a maximum payout upon B2B Rocket reaching approximately US$20 million (NZ$34 million) in ARR. Completion of the acquisition remains subject to the conversion of certain equity interests in B2B Rocket, BPG having its shares quoted on the ASX market, and other customary conditions for a transaction of this nature. Subject to satisfaction of these conditions, the transaction is expected to complete in August 2025. BPG is evaluating a full range of funding options for the acquisition, including a mix of cash, debt and equity initiatives. The company will update the market once a final funding structure has been finalised. In parallel with this transaction, Blackpearl confirms it is preparing to file an application for a foreign exempt listing on the ASX. The company’s primary listing will remain on the NZX. Contact: Released for and on behalf of BPG, Karen Cargill Chief Governance Officer and Interim CFO
https://www.nzx.com/
Wellington, New Zealand – Black Pearl Group Limited (NZX:BPG) has announced that Bebop, its latest AI-driven sales enablement product, has reached $1.2 million in Annual Recurring Revenue (ARR) in just 45 days - making it the fastest-growing product in the company's history. Bebop achieved this milestone at twice the speed of Pearl Diver, itself a standout performer with $10 million of ARR within 24 months.
Most SMEs have been locked out of high-quality sales intelligence - legacy platforms like ZoomInfo, Clearbit, and Apollo are built for enterprise and priced accordingly. Bebop changes that. In just seconds, this AI sales agent scans millions of US-based companies to deliver a hyper-targeted list of verified decision-makers, complete with personalised strategic dossiers.
“Bebop is like ChatGPT, but specifically built for sales and revenue growth. This is one of the fastest go-to-market trajectories we’ve seen across the SaaS and AI landscape, and customers have rapidly validated our value proposition. We hit it out of the park with Pearl Diver, so it’s extremely exciting to see Bebop overtake its impressive early adoption. Bebop’s traction validates our core thesis: that speed, usability, and value drive adoption. And our platform was built to scale these advantages, fast” comments Nick Lissette, Chief Executive Officer
Faster and more intelligent for a fraction of the cost
Bebop delivers enterprise-grade sales intelligence at a fraction of the cost of other platforms - finally making AI-powered sales intelligence accessible to the SME market.
“There’s rising demand for AI-native, cost-effective sales tools that solve real SME challenges. With Bebop, we imagined unlocking unlimited revenue opportunities and cutting-edge business intelligence. Early customer feedback highlights Bebop’s ability to “save hours in research,” “generate customers effortlessly,” and “bring the power of AI to the everyday business owner”. That’s real results; and a real threat to Silicon Valley sales giants,” believes Lissette.
He adds that this previous generation of B2B tools relies on SQL queries over large databases, with apps designed to make that experience as seamless as possible. “Bebop has intelligence at its core - genuinely understanding what a business provides and exactly who needs it. Our product delivers a fundamentally different experience that unlocks deep insights that fuel measurable revenue growth.”
Doubling down on AI’s potential
Bebop was developed and taken to market in just 90 days. This was only possible because of years of investment into Blackpearl Group’s proprietary software and data platform - formally known as Pearl Engine - a testament to the company’s rapid innovation and robust technology infrastructure.
“That conviction has been validated. The results show Bebop is not just viable – it’s a force multiplier for BPG’s revenue growth. It now stands alongside Pearl Diver as a key driver in our product portfolio, reinforcing our strategy of building scalable, high-impact tools for customer acquisition,” reiterates Lissette. “Bebop’s rapid market-fit means our line of sight on $20M ARR is even clearer. And this also will greatly contribute to our medium target of $50M ARR.”
“We have deliberately invested since our capital raise intovplatform development and talent acquisition. The vision and engine is working. Our investment and market timing have aligned. With two products both demonstrating scale and demand, we’re well positioned for sustained growth,” concludes Karen Cargill, Interim Chief Financial Officer
About Blackpearl Group
Blackpearl Group (BPG) is a market leading data technology company that pioneers AI-driven sales and marketing solutions for the US market. Specifically engineered for small-medium sized businesses (SMEs), BPG consistently delivers exceptional value to its customers. Our mantra is simple: ‘Better Growth Together’. When our customers win, we win.
Founded in 2012, BPG is based in Wellington, New Zealand, and Phoenix, Arizona.
www.Blackpearl.com
With a population of 5.2 million people spread over a land area slightly less than the state of Colorado, New Zealand has a strong story to tell about free trade, farming and renewable forestry resources. No more so than when it comes to endorsing our high-quality softwood timber and lumber products that have gained popularity among American consumers in the home construction industry due to their appearance, superior machining properties and premium quality.
Forests thrive in New Zealand’s climate and the sector supports a year-round harvest – with responsible production central to the industry. Plantation forests are sustainably managed (with large areas under global certification programmes), and are dominated by radiata pine, a productive and fast-growing softwood species. Processed outputs from our forest estates range from lumber, pulp and paper, panels, to engineered wood and remanufactured products.
The strength of New Zealand pine compares favourably with that of most traditional construction lumber species. Appropriate conversion processes ensure that the higher-strength wood fibre near the outside of the log is sawn for building and construction. Our radiata pine is versatile and is excellent for an impressive range of structural and appearance applications. It is easily kiln dried or chemically treated to produce stable and long-lasting products.
Due to limited domestic demand for our wood products, we have always taken great pride in developing relationships and exporting our timber and lumber to overseas markets, such as the United States. In 2024, we exported $US215 million of radiata pine products from New Zealand to the United States making the U.S. our third largest export market for forest products behind China and Australia. Although the $US215 million is minor when compared to the total global imports of $US2.3 billion of timber and lumber products into the United States, this trade is valued by both the New Zealand producers and the American DIY customers.
New Zealand timber and lumber exporters are known for providing high value wood products into the United States, most of which is sold into the DIY end user’s market, such as Home Depot, Lowes and Menards.
Given the healthy relationship between the United States and New Zealand on the trade front, the temporary relief of tariffs on timber and lumber imported into the United States has been welcomed. Though we realise that this tariff exemption could be short lived based on the outcome of the Section 232 investigation aimed at determining the global effects imports of timber, lumber and their derivative products have on the United Sates supply chain.
As a small niche supplier of wood products that are needed by the U.S. domestic building market, there is a strong argument for keeping New Zealand timber and lumber imports tariff free to avoid any additional price hikes and further supply chain disruptions.
If tariffs are added to imported New Zealand wood products, this will have a direct impact on the American consumer through price increases and supply availability on articles like clear pine boards, moldings, solid wood sidings and primed product. As one customer in the United States commented “a lot of what we buy from New Zealand we can’t get elsewhere easily, so expect we may have to pay extra, resulting in higher prices for the consumer”. As an example, clear radiata pine boards are unable to be produced in the United States as no domestic species come from a pruned forestry resource.
There is a realisation that due to our low trade barriers and the minimal effect we have on global imports into the United States, that New Zealand is not the target of any new tariffs. However, there is a chance that we will be unintentionally caught up in the tariff effects should they be implemented. With high shipping and production costs, it is anticipated that should a tariff on New Zealand timber and lumber products be imposed then this will lead to higher prices at a time when other building material costs are also on the rise.
From a New Zealand perspective we look upon the temporary tariff exemption on timber and lumber products as a blessing, and we thank our kindred organisations in America, such as the National Association of Home Builders and the Northeastern Retail Lumber Association, for their support in making this happen. Like many, we now wait for completion of the section. 232 Investigation as to what the future holds for imported New Zealand timber and lumber products entering the United States.
Mark Ross
Chief Executive
Wood Processors and Manufacturers Association of NZ
https://wpma.org.nz/
Kā te Rama Switched On Group has signed a Sales and Purchase Agreement with PAE New Zealand.
As a respected leader in commercial facilities and asset management, PAE NZ will bring valuable expertise that will strengthen and expand our Group's capabilities. This strategic acquisition will build on our established strengths in construction and social housing facilities management, supporting Switched On Group’s aspiration to be national leaders in comprehensive, end-to-end facilities management solutions. At this stage, the timing for welcoming PAE NZ to the Group is forecasted to be the end of June. Stronger Together: A Shared Vision for Aotearoa
“Bringing PAE NZ’s legacy, capability and solid track record alongside our Group’s 40-plus years in construction and social infrastructure will help us build partnerships with a range of property owners who need a total facilities management solution. This acquisition aligns with our Group’s vision of enhancing people’s environments across Aotearoa,” says Board Chair Paul Rogers, Ngāti Porou ki Hauraki.
The purchase will enable Switched On Group to extend its reach and have a larger impact on whānau, businesses, and communities with the ability to service a wider client base across the residential, commercial and government property sectors.
“Our Group has operated in community housing facilities management for more than 40 years, complemented by construction services such as fit-outs, refurbishments, and new builds. Coming together with PAE NZ will mean we can offer full facilities management, asset management, and maintenance across sectors, while maintaining the local service focus that both our organisations value," says Group Chief Executive Chris Hughes. A New Chapter for PAE NZBecoming part of Kā te Rama Switched On Group will represent an exciting new chapter for PAE NZ. Previously owned by global corporations, the acquisition will represent a change to 100% New Zealand shareholding for PAE NZ, which has been New Zealand led and operated for more than 30 years.
Local whānau and iwi ownership, which is forecasted to take effect in late June, is a strategic move to grow the business further nationally, while maintaining delivery of longstanding mahi for kiwi clients such as the New Zealand Defence Force (NZDF), Fonterra, University of Auckland, Contact Energy, PGG Wrightson, and DB Breweries.
“Our commitment to our clients and service delivery remains unchanged, but we can now collaborate nationally with a Group that shares our local focus on excellence in facilities and asset management, and maintenance. We are stronger together, and combining creates a one-of-a-kind, kiwi-owned, comprehensive facilities management provider for New Zealand,” says PAE NZ Chief Executive Chris Pile.
About Kā te Rama Switched On GroupKā te Rama Switched On Group is a whānau and iwi-owned construction and facilities management business, founded by the Hughes family in Christchurch in the 1980s. The Group has deep roots in social housing and has grown to deliver construction, fit-outs, refurbishments, new builds, and maintenance services across Aotearoa. In 2021, Te Rūnanga o Toa Rangatira became shareholders, making the Group majority Māori-owned and Amotai registered.
About PAE New ZealandPAE NZ is a commercial facilities and asset management specialist, established in 1991. With a legacy of long-term partnerships, including with the New Zealand Defence Force, the company manages over 4,000 buildings and completes more than 230,000 maintenance jobs annually. More: www.pae.co.nz
After a decade of research & development, NZ medtech company OptiRTP is taking its non-invasive, sound-based digital therapeutic global. Optimum Bio Sound Therapy (OBST) delivers proprietary, precision-tuned, ultra-low frequency signals through a cutting-edge in-home medical platform—activating the body’s innate systems for recovery, resilience, and cellular regeneration.
FDA-registered as a Class I medical device and Medsafe-listed in New Zealand, OBST has delivered over 200,000 therapy hours to 1,100+ users. It is trusted by over 35 respected high-performance industry professionals including Olympic medalists, Paralympians, World Cup athletes and national coaches - each of whom has experienced meaningful outcomes:
A Real-World Data study—developed with U.S.-based partner Lindus Health—will evaluate OBST’s impact in five key wellness areas using validated PROMIS measures:
Pain interference, fatigue, sleep quality, physical function, and emotional well-being.
With global foundations in place, OptiRTP is now inviting investment to scale this breakthrough New Zealand health technology—bringing next-generation recovery and wellness into homes worldwide, with initial expansion focused on the United States, India, and Japan.
Discover the opportunity: OptiRTP.com/Opportunity
Smartpay Holdings Limited (NZSX:SPY, ASX:SMP, “Smartpay” or “the Company”) has entered into a Scheme Implementation Agreement (“SIA”) under which Shift4 Payments, LLC (“Shift4”), or wholly-owned subsidiary, will acquire all of the shares in Smartpay for NZ$1.20 per share in cash, by means of a scheme of arrangement under Part 15 of the Companies Act 1993 (the “Scheme”). Shift4 is an American payment processing business. Highlights • Following a comprehensive process and a thorough consideration of strategic options, the Smartpay Board has assessed the Scheme as providing the most compelling value for shareholders. • Under the Scheme, Smartpay shareholders will receive a cash price of NZ$1.20 per share. • The proposed consideration of NZ$1.20 per share in cash represents: o o o o a 46.5% premium to Smartpay’s 90 trading day volume weighted average price to close of 20 June of NZ$0.82 per share 1 an implied equity value of A$274.1 million / NZ$296.4 million;2 an enterprise value of A$282.8 million / NZ$305.8 million;3 and an acquisition multiple of ~14.2x based on FY25 Normalised EBITDA pre-NZ investment of NZ$21.5 million. • Following the culmination of negotiations between the parties, Shift4 has stated that the offer price under the Scheme of NZ$1.20 per share represents its best and final price, in the absence of a Competing Proposal. • The Scheme is subject to the approval of Smartpay shareholders, consent under the New Zealand Overseas Investment Act 2005, approval of the New Zealand High Court, there being no Material Adverse Change and other customary conditions as detailed in the Scheme Implementation Agreement. The Scheme is not subject to any financing condition. • Smartpay shareholder approval will be sought at a special meeting of shareholders expected to be held in Q3 2025. Smartpay shareholders do not need to take any action at the current time. The Directors unanimously recommend that shareholders vote in favour of the Scheme, subject to the Scheme price being within or above the Independent Adviser’s valuation range for Smartpay shares and in the absence of a Superior Proposal. Subject to the same qualifications, the Directors intend to vote, or procure the voting of, all of the Smartpay shares that they hold or control in favour of the Scheme.3 The Scheme has support from Smartpay’s substantial shareholder Microequities Asset Management As at the date of this announcement, Microequities Asset Management Group Limited (ACN: 110 777 056) (“Microequities Asset Management”), its associated entities and funds of, or managed by, Microequities Asset Management or its associated entities hold or control 32,109,979 Smartpay shares (representing approximately 13.3% of the Smartpay shares on issue). Microequities Asset Management, its associated entities and any funds of, or managed by, Microequities Asset Management or its associated entities intend to vote all Smartpay shares held or controlled by them as at the time of the Scheme Meeting in favour of the Scheme (noting that Microequities Asset Management, its associated entities and any funds of, or managed by, Microequities Asset Management or 1Period of 90 days of trading on the NZX between February 10 2025 to 20 June 2025, excluding New Zealand public holidays 2Using an NZD:AUD FX rate of 0.9248 as at 19 June 2025 , net debt of NZ$9.5 million as at 31 March 2025, and ordinary shares outstanding of 241,943,464 (excluding 169,931 shares held as treasury stock) and Share Performance Rights of 5,024,541. 3In the case of Carlos Gil, the representative director of one of Smartpay’s largest shareholders, Microequities Asset Management, such intention to vote, or procure the voting of, all of the Smartpay shares that he holds or controls in favour of the Scheme does not extend to any shares held or controlled by Microequities Asset Management, its associated entities or any funds of, or managed by, Microequities Asset Management or its associated entities. See the separate statement included in this announcement in relation to Microequities Asset Management. its associated entities reserve the right to sell any Smartpay shares held or controlled by them at any time), in the absence of a Superior Proposal and subject to the Independent Adviser concluding (and continuing to conclude) that the Scheme price is within or above the Independent Adviser’s valuation range for the shares. Background to recommendation Following a comprehensive process to review expressions of interest and test a broad range of other potentially interested parties, the Smartpay Directors have assessed the Scheme as providing compelling, risk-adjusted value and, if the Scheme completes, certainty for shareholders. Chairman of Smartpay, Gregor Barclay, said, “Following the receipt of various unsolicited, non-binding expressions of interest to acquire the Company, the Board formed an Independent Committee comprising the Company’s independent directors, appointed external advisers and undertook a comprehensive process, with a view to exploring opportunities to enhance shareholder value.” “In considering the options, including the possibility of continuing to implement the Company’s growth strategy as a publicly listed company, the Directors have carefully considered the risks and rewards of the various alternatives. After a thorough assessment, the Directors believe that the Scheme currently represents the most compelling value for shareholders. Although the Directors remain confident in the future of Smartpay, the transaction will accelerate the realisation of value for Smartpay shareholders and mitigates the risks that would otherwise be involved in delivering Smartpay’s strategic plan over time. Accordingly, the Directors are pleased to unanimously recommend the transaction to shareholders, in the absence of a Superior Proposal and subject to the Independent Adviser Report concluding (and continuing to conclude) that the Scheme price is within or above the Independent Adviser’s valuation range for the shares.” Marty Pomeroy, CEO of Smartpay, said, “Smartpay remains focused on being the payments partner of choice, investing and adding scale to our existing Australian and New Zealand business. The proposed transaction, if completed, will see Shift4 partner with Smartpay to deliver an enhanced value proposition to our customers, employees and other stakeholders while delivering immediate and derisked value to our current shareholders.” Details of Scheme, including key conditions and exclusivity The Scheme is subject to the approval of Smartpay shareholders, consent under the New Zealand Overseas Investment Act 2005 and approval of the New Zealand High Court. It is also subject to other customary conditions, including the absence of a Material Adverse Change. The Scheme Implementation Agreement contains customary exclusivity provisions, including “no-shop”, “no-talk”, and “no due diligence” obligations. The latter two restrictions are subject to exclusions which permit the Smartpay Board to engage in relation to a competing proposal which is (or is reasonably likely to become) a Superior Proposal and where their fiduciary obligations require them to do so, subject to notifications being made to Shift4. Shift4 also has an opportunity to match any Superior Proposal. The Scheme Implementation Agreement also contains break fee and reverse break fee provisions (with each being approximately $2.96 million). A copy of the SIA is attached to this announcement. The Appendix to this announcement sets out a summary of the Scheme process and a summary of key certain key aspects of the SIA. Indicative timetable and next steps Smartpay will, with the approval of the Takeovers Panel, appoint an independent firm to prepare an Independent Adviser’s Report to assist shareholders to assess the merits of the Scheme. A Scheme Booklet containing information relating to the Scheme, the Independent Adviser’s Report, the reasons for the Directors’ unanimous recommendation, and meeting information is currently expected to be sent to Smartpay shareholders in Q3 2025. Smartpay shareholders will have the opportunity to vote on the Scheme at a meeting likely to be held in Q3 2025. If all the conditions are satisfied, the Scheme is expected to be implemented in Q4 2025. The Directors encourage shareholders to carefully consider the materials that will be sent to them and to exercise their right to vote at the special meeting that will be called to consider the Scheme. If shareholders have questions or if they propose to buy or sell Smartpay shares before receipt of those materials, they are encouraged to seek their own professional advice. Note that these dates are indicative and subject to change. Capitalised terms used but not otherwise defined in this announcement have the meanings given to them in the SIA.
About Shift4 Shift4 Payments, LLC is a subsidiary of Shift Payments, Inc., a global leader in financial technology, providing solutions for every aspect of the commerce ecosystem to deliver a seamless and streamlined payments experience to customers. Shift4 provides integrated payments solutions and commerce technology, processing over US$260bn in transactions each year in over 45 countries and servicing more than 200k customers across more than 100 payment methods. Shift4 partners with the leading brands in every industry across travel & hospitality, food & beverage, retail, sports & entertainment, casinos & online gaming, eCommerce and specialty sectors. Shift Payments, Inc. is listed on the New York Stock Exchange (NYSE).
Source: https://www.smartpayinvestor.com/stock-information/updates/
Science, Innovation and Technology Minister Dr Shane Reti and Space Minister Judith Collins have today announced that in partnership with the US, the Government is investing $5.6 million to support five new joint NZ-NASA research projects in the field of Earth observation.
Researchers from New Zealand and NASA will work in partnership to tackle challenges such as disaster resilience and environmental management over the next three years.
“These projects will combine some of New Zealand’s best research talent with NASA’s world-leading scientific expertise and technology, driving innovation in space science and environmental monitoring,” Dr Reti says.
“Advancing Earth observation science helps us better understand our natural environment and enables us to manage our natural resources more effectively. For example, we can use satellite data and AI algorithms to accurately measure water movements, which helps manage freshwater and mitigate floods.
“These projects will create a more resilient economy and drive productivity in some of our most valuable export industries, such as forestry and agriculture. They will also grow our science and innovation sector by positioning us in global growth markets such as remote sensing,” Dr Reti says.
“The US is an indispensable space cooperation partner for New Zealand and our engagement with NASA is a key part of our bilateral relationship. These projects will further entrench our ongoing and positive relationship with NASA,” Ms Collins says.
“NASA will contribute Earth observation satellite data, access to advanced tools and technology, as well as approximately $1.9 million in direct staff time and expertise."
The projects are the second stage of the NZ–NASA research partnership through the Catalyst Fund, following an earlier round of feasibility studies. The selected projects span a range of high-impact areas:
Te Mātai Pū o te Kea – High Altitude Coastal Remote Sensing – advances remote-sensing technology using Kea’s Atmos high-altitude uncrewed aircraft.
Satellite Multi-Scale Hydrologic Framework for Te Hiku ō Te Ika Wairere Ngahere – develops tools to measure terrestrial water flux via satellite data.
Monitoring Vegetation–Geothermal Interactions from Space and Airborne Platforms – Integrates multiple Earth observation data streams to measure chemical and physical changes via vegetation.
Near Real-Time Fuel Moisture System for Wildfire and Drought – builds a predictive fire model using remote sensing.
Integrating Machine Learning and Remote Sensing for Dynamic Forest Mapping – develops predictive forest mapping using satellite imagery.
Further information about the projects can be found on the MBIE website: https://www.mbie.govt.nz/catalyst-strategic-new-zealand-nasa-joint-research-programme-in-earth-observation
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