New Zealand Wool Services International bosses came under pressure at its annual meeting in Christchurch this week as shareholders raised questions about the future of the company.

Shareholders expressed their frustration with the continuing uncertainty surrounding the company’s fate.

Sixty four percent of NZWSI’s shares are currently up for grabs after its majority shareholders, Plum Duff and Wool Holdings, went bust and several potential buyers are in the wings.

Shareholders wanted to know whether the NZWSI board had had any better offers since Cavalier Wool Holdings tabled $40 million in May for the company.

However, Cavalier then had to jump through Commerce Commission hoops before getting permission to buy the company which would have created a wool scouring monopoly. 

This decision was delayed by an appeal by carpet maker Godfrey Hirst.

Directors told shareholders because of the appeals they did not have any current offers on the table but it would consider any that come in.