Ron Brierley
Strategic Concepts & Mechanics
Primary Evidence
"business world’s high-flyers, including Ron Brierley, Frank Renouf, Allan Hawkins, Alan Gibbs, Bob Jones, Michael Fay, David Richwhite, Colin Reynolds and Bruce Judge."
"The takeover went ahead in August 1987. *Personal Investor* magazine reported that Heatley’s 32 million Rainbow shares, which had been about 25 per cent of Rainbow, became 20 million BIL shares, making him the second largest individual shareholder in BIL with 2 per cent. The largest individual shareholder was Ron Brierley himself, with 4 per cent of the company. Margaret George and Margaret Tapper did not do well out of the settlement, which gave three BIL shares for every five Rainbow shares, and four BIL shares for every five Rainbow options. ‘In the conversion to Brierley shares, something went on with the Rainbow options which diminished the value, or it should have been spread around us all,’ Tapper says. George agrees. ‘I think that’s where I ended up a bit confused and wondering what had happened.’ Everyone involved in the company had learned so much, but there was nothing they could do to save it at the end. On 23 November 1987, Rainbow Corporation was delisted from the New Zealand Stock Exchange. The Rainbow that had arced so brightly had quickly faded away."
"Heatley was inside but had felt on the outer from day one. The power lay with Ron Brierley—now Sir Ron after his knighthood was announced in the 1988 New Year Honours List—Paul Collins and Bruce Hancox. Heatley was not in that inner circle so had no control. ‘Heatley and Lane were also re-rated along with their former assets, and the judgement was harsh,’ van Dongen writes. ‘They weren’t and aren’t talented’ was Sir Ron’s own brutal analysis.[1](private://read/01jectdbce729daxqkxt7cbe8r/#mn17) Something was going to have to give."