New Zealand freight and logistics company, TIL Logistics Group Limited (NZX: TLL), advises that Mr Greg Kern has sold down his shareholding in the company and has stepped down as a nonexecutive director, effective immediately.
Mr Kern’s 5% shareholding has been acquired by a number of institutional and private investors as well as members of the Board and executive team.
Chair of TLL, Mr Trevor Janes, commented: “We are delighted to be welcoming a number of well regarded investors onto the share register, including a number of institutional investors.
“TIL Logistics Group is one of the largest domestic freight and logistics companies in New Zealand. Its strengths lie in its bundled professional transport and logistics solutions, scale, reach and depth of experience. Activity levels across the industry remain high and TIL is well positioned to take advantage of market dynamics and growth opportunities.”
Mr Kern was an advisor on the reverse listing of TIL Logistics Group in 2017, at which time he joined the Board. The company thanks him for his services during this time.