HISTORY

Bethunes Investments Limited (“Bethunes”)* is a NZX listed company (BIL.NZX) which was previously named Mowbray Collectables Limited (MOW.NZX) a philatelic business that was floated by founder Mr. John Mowbray on the New Capital Market (NCM) in April 2000 and ultimately listed on the NZX main board on 9 December 2002. The performance of Mowbray Collectables failed to reach expectations since listing. In 2014, the Board (at the time) initiated a divestment and capital raising programme to retire debt that culminated in the sale of Peter Webb Galleries Limited ("Webb's") to Australian based Auction House - Mossgreen on 31 January 2016.

This has left Bethunes in a net cash position as a NZX listed investment company. Bethunes, with a new shareholder base, is now seeking investment opportunities as outlined by its shareholder principles.

*The company was renamed Bethunes Investments Limited (BIL.NZX) on 17 July 2015. The name Bethunes was selected as the continuing name for the Company, as it was associated with Mowbray Collectables for many years. In 1999, John Mowbray formed Bethunes Rare Books Limited to acquire the rare book auction business of JH Bethune Limited  initially established in 1877. Bethunes had earned a worldwide reputation auctioning rare books, prints and antique maps. It therefore seemed entirely appropriate when re-naming the Company to maintain this link to the company’s history while establishing a new vision and modus operandi for the company.