When Peter Harris first became the managing director and CEO of CLB, he never imagined he would have such widespread success with the company but such is the case for the 52 year old businessman and entrepreneur. It all began back in 2017 when he first sold five million of his shares to some business in New Zealand. This is what inspired the rest of the company to follow suit and try to sell as many shares as they could. This type of spirit eventually led to the senior partners selling a grand total of 9.6 million and Alistair Hutchinson, the deputy chairman, selling an additional 5.4 million shares. In total, this led to them generating a revenue of over $65 million and has led to the company making a significant profit over the years.
According to finance news network, these shares were worth about $3 which is discounted from their usual price of $3.35. Research has found that they sold over 8.5% of their issued capital and they hope to increase their shares in the market as the company continually grows and expands. Of course, these sales have gone to businesses and investors all over the world but the majority of them were sold to various companies based out of Australia and New Zealand. This move comes not long after they recently announced these shares were being taken out of escrow after they revealed the results back in February of 2017.
Peter Harris first began his career as a freshman at the University of Auckland where he quickly developed an affinity for finance and decided to major in it. After receiving his degree in the spring of 1989, he was offered the position of finance director at a company called Boston Marks Group. After serving as one of their shareholders for a few years, he left in 1992 to accept an offer at General Capital. He was their CEO for almost five years before leaving in 1996 to become the International Business Director of CBL. He was their managing director and CEO until leaving the company 22 years later.
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