27 August 2007 – NZX confirms that it has received responses from all 15 companies from which it requested continuous disclosure statements before the 9.00am deadline today.
One company, Property Finance Group (PFG) Limited, requested a trading halt on Friday 24 August. The Board of PFG advised that it is investigating a number of restructuring opportunities. It is expected to advise NZX of those opportunities today. PFG's stock remains in halt.
NZX wrote to all listed finance companies, and listed companies with material finance company subsidiaries, on Thursday 23 August. NZX asked the companies to confirm that they are complying with their continuous disclosure obligations under Rule 10.1.1.
While NZX did not have specific cause to be concerned that companies were not complying, the letter provided an opportunity to the listed finance company sector to help restore confidence in the listed finance sector by demonstrating transparency.
Companies NZX wrote to are as follows:
Allied Farmers Limited |
Cynotech |
Dominion Finance |
Dorchester Pacific |
Lombard Group |
MFS New Zealand Limited |
Motor Trade Finance Limited |
NZ Finance Holdings |
PGG Wrightson Finance Limited |
Propertyfinance Group Limited |
Pyne Gould Corporation |
South Canterbury Finance |
Speirs Group |
St Laurence |
Strategic Finance |
