sam,
Bancorp New Zealand is an investment bank. As such it doesn't take customer deposits or make loans......it arranges investments, brokers loans and advises. I suspect that is what accounts for its absence from the NZ list of registered banks. I also suspect that you could put up a stand in your driveway with a sign on it that says "samsamsamiam Bancorp" and provide the same services without any more licensing than would be required to sell lemonade (which might actually require more if you sold enough lemonade to draw the attention of the authorities).
This hubbub all springs forth from just one statement:
"There is one known corporate beneficial owner, Bancorp New Zealand."
There are no 10% beneficial holders, so that statement simply means that they hold between 1 and 14,000,000 and change shares of EIGH. Bancorp New Zealand is not mentioned in any other context, so it isn't clear that there is any business relationship whatsoever between them and EIGH other than their investment in however many shares they own.
The legitimacy of BNZ's operations are irrelevant without an understanding of the extent of their involvement with the company.....something that the company chose not to expand upon beyond a fleeting mention of their share ownership. By the way, I would be very surprised if there was only one "corporate beneficial owner" and suspect the case was that the company simply felt that BNZ was beneficial to mention. Clearly it garnered the desired level of attention.
ps. If you are reading this from anywhere in the United States, you are as close or closer to Japan than New Zealand is to Barbados.
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