Blue Star bondholders’ vote “yes”

10 August 2011

Blue Star bondholders’ vote “yes”

Blue Star Group New Zealand is immensely pleased about the positive vote of confidence conveyed by its bondholders today on the proposed Amendment Offer on debt restructuring.

Chief Executive Officer, Blue Star Group New Zealand, David Jupe reaffirmed his management team’s commitment to re-position the company for future growth.

“This is a great company, with great people. All we need is a bit of time for these plans to reap the benefits for our valued bondholders.

“The team at Blue Star Group New Zealand appreciates the vote of confidence from the Group’s bondholders and would like to express thanks and gratitude for the trust they have shown in the company and its business strategy,” David says.

“Now that we have crossed this major hurdle, we would also like to assure our bondholders, customers, suppliers and our people that going forward it will be business as usual at Blue Star Group New Zealand. In fact, we’re now looking to emerge stronger coming out of this scenario and follow our visions of growth in the years ahead.”

With a glorious past as its foundation, the Blue Star Group New Zealand has some major expansion plans in the pipeline. Webstar won the ACP publishing contract early this year for all their titles in New Zealand. Apart from that, Blue Star Group New Zealand also secured a deal to be a printing hub for New Zealand government agencies.

This process also saw the company establish a new factory in west Auckland and source some high-tech equipment at its printing facility.

“All these constructive plans, along with our existing powerful customer base, point toward a healthy stream of revenue for the company in the near future as well as long term.”

“We have a special word of thanks for our staff for what they do everyday for the company and contribute toward its continuing growth. Without them, it would be extremely difficult for us to follow our vision.”

David believes this win highlights the strength of the company’s strategies. “It has been a challenging period for us, but thanks to our bondholders, Blue Star is now poised for bigger steps.”

ENDS

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