Vbase announces full Christchurch City Council subsidiary ownership


MEDIA RELEASE              


22nd March 2006


Vbase is now 100 percent owned by Christchurch City Council subsidiary Christchurch City Facilities Ltd (CCFL), after the recent purchase of a share parcel held by Addington Raceway Ltd.


Vbase manages the Christchurch Convention Centre, Christchurch Town Hall, Westpac Centre for Sport & Entertainment and Jade Stadium.


Vbase Chief Executive Bryan Pearson says the Board and executive management see several strategic and operational benefits in operating the four venues, under city ownership, but with one independent board and management structure.


He says “the company’s philosophy is based on that independence, and its success has been built on a strong private enterprise culture.”


“The success these venues have enjoyed and the benefits they have brought to the city in the last ten years have been achieved under that rigorous discipline of private venue management. We intend to keep that competitive edge as we develop and market the venues in traditional and new markets.”


For more information

Bryan Pearson          Phone or