Pyne Gould Corporation expects to provide its shareholders much lucidity on the calculated evaluation of its different businesses earlier than they vote on a projected merger involving the holding group two building societies and Marac Finance.

As per the Managing director Jeff Greenslade in the annual meeting of approximately 150 shareholders in Christchurch yesterday, there were many alternatives for PGC. The assessment was being arranged by the investment bank First New Zealand Capital and him.

The assessment has been activated by PGC's target of turning a countrywide banking process in the prospect opening with the amalgamation of subordinate and core asset Marac Finance with construction societies Southern Cross Building Society and CBS Canterbury originated in Auckland. The combined unit will have $2.3 billion in assets and propose to look for a banking license middle of next year.

Greenslade stated at one side that the alternative was for PGC to swap over Marac Finance for a 72 per cent bet in the combined entity, known as Building Society Holdings Limited, and carry on to be a holding group with that venture along with others such as its 18.3 per cent investment in PGG Wrightson.