Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More

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

 

Illegal Share offer by IRA NRG NZ Limited (INNL)

News release

8 December 2010

Warning: Illegal Share offer by IRA NRG NZ Limited (INNL)

The Securities Commission warns people of an illegal share offer by Ira NRG NZ Limited (INNL) and its sole director Simon Romana. The Commission has banned the company’s website and the content of the website has been removed. There is no registered prospectus for the offer.

The website of INNL described INNL’s plans to generate electricity and sell it to the national grid. The website included claims of future income that are not substantiated on the website. There were no assumptions disclosed relating to the prospective financial information as required by law.

"The public offer of shares by INNL is illegal as there is no prospectus. Any purported allotment of shares to investors would be void and of no effect. People should not invest in this company until it complies with the requirements of the Securities Act 1978" said Securities Commission Chairman, Jane Diplock.

INNL was incorporated in March 2010.

ENDS

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Business Headlines | Sci-Tech Headlines

 
GenPro: General Practices Begin Issuing Clause 14 Notices

GenPro has been copied into a rising number of Clause 14 notices issued since the NZNO lodged its Primary Practice Pay Equity Claim against General Practice employers in December 2023.More

SPADA: Screen Industry Unites For Streaming Platform Regulation & Intellectual Property Protections

In an unprecedented international collaboration, representatives of screen producing organisations from around the world have released a joint statement.More

 
 
 
 
 
 
 
 
 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.