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In October 2016 the Hill household trust, Hoglett Hamlet, bought 10 per cent of its stake – 16 million shares – in MHI for $25.6 million. However, it remains the company’s largest shareholder, proudly owning 38 per cent of the company. At the time, 60 per cent of its stores have been in Australia and greater than eighty per cent of MHI’s revenue and income were generated outside of New Zealand. However, even the buy-back program was saddled with strict circumstances, including that retailers can be charged a dealing with payment.

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