Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


NZSE should move to remove confusion says Vertex

NZSE should move to remove confusion says Vertex Group

Vertex Group Holdings believes it was important to take the time to responsibly validate a revised forecast issued last year rather than risk misleading the market with a rushed assessment. The revised forecast was prepared in a timely manner and issued to the Stock Exchange as soon as it was approved by the Board.

Vertex disagrees with the Market Surveillance Panel that the company should have been more prompt in issuing the profit downgrade.

The Company agrees that information should only be released when there is sufficient certainty that the release would not have been misleading, but disagrees with the Surveillance Panel as to when that point in time was reached. The Company notes that the Stock Exchange also disagrees with the Panel, but for different reasons.

Vertex believes there is widespread confusion about the new Stock Exchange continuous disclosure regime, and the directors of New Zealand public companies need detailed guidelines if they are to avoid unwittingly breaching the new requirements.

The Company now views this matter as concluded and intends to make no further media comment.

© Scoop Media

Business Headlines | Sci-Tech Headlines


Voluntary Administration: Renaissance Brewing Up For Sale

Renaissance Brewing, the first local company to raise capital through equity crowdfunding, is up for sale after cash flow woes and product management issues led to the appointment of voluntary administrators. More>>


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>


Media Mega Merger: Full Steam Ahead For Appeal

New Zealand's two largest news publishers have confirmed they are committed to pursuing their appeal against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>


Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>