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Inquiry into Vertex Group Holdings Limited
News Release
11 September 2002
Inquiry into
Vertex Group Holdings Limited
The Securities Commission is to inquire into the offer and allotment of shares in Vertex Group Holdings Limited (Vertex) for its initial public offering in June 2002.
The Commission will also inquire into the trading of Vertex shares prior to the company’s profit warning on 4 September 2002.
On 4 September 2002 Vertex announced anticipated shortfalls to profits forecast for the six months to 30 September 2002 in the investment statement and registered prospectus for the offer.
After the announcement the New Zealand Stock Exchange referred the matter to the Commission and to the Market Surveillance Panel.
The Panel is investigating Vertex’s compliance with the Listing Rules of the New Zealand Stock Exchange.
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