An illustration of the planned four-level luxury boutique hotel that was to have been developed by Augusta Capital on Man Street, central Queenstown, but is now on hold. It's the second time Centuria Capital has made an offer for Augusta Capital but the second offer is half the price of the first. Augusta Capital said this offer was for an "implied" $1 a share, made up of NZ20c and 0.392 Centuria Stapled Securities per Augusta Share. READ MORE:* Augusta Capital to raise $45m from investors to pay back debtCenturia NZ, a subsidiary of Centuria Capital, already holds a 23.3 per cent stake in Augusta Capital through a recent equity raising for Augusta. Stuff-co-nz Mark Francis, managing director of Augusta Capital, has agreed to sell his Augusta shares to Centuria.

Source: Stuff June 14, 2020 23:15 UTC