Steven Joyce Expands NZME Holdings with 32,000 Share Purchase

Steven Joyce, chairman of NZME, has increased his stake in the company by acquiring 32,000 shares during an on-market transaction last week. This purchase, disclosed on the New Zealand Exchange (NZX), was valued at $36,071 and was made on August 29, 2023. Following this acquisition, Joyce now holds a total of 50,965 shares in NZME.

Joyce, who previously served as a National Member of Parliament and Finance Minister, joined the NZME board in June 2023. His latest investment reflects confidence in the company’s future and strategic direction.

Significant Moves by NZME Directors

This development comes on the heels of another substantial transaction by fellow NZME director Jim Grenon. On the same day as Joyce’s purchase, Grenon acquired an impressive 5.5 million shares, elevating his total stake in NZME to nearly 16%. This latest acquisition brings Grenon’s total holdings to 29.995 million shares. The transaction amounted to approximately $6.1 million, underscoring Grenon’s commitment to the company.

Grenon has played a pivotal role in reshaping NZME’s board structure, which ultimately led to Joyce’s appointment. Together, their recent share purchases signal a robust belief in NZME’s potential growth and performance in the media landscape.

The dual investments by Joyce and Grenon demonstrate a proactive approach from NZME’s leadership, aiming to bolster investor confidence and enhance company visibility in a competitive market. Their actions may signal a strategic alignment with the company’s long-term goals as they navigate the evolving media industry landscape.

Overall, these transactions reflect a solid commitment from key leadership figures to support NZME’s trajectory forward. As the media sector continues to adapt to technological advancements and changing consumer behavior, such investments could be critical in maintaining a strong market position.