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

 

Insured Group head Miller hospitalized, prospectus withdrawn

Insured Group head Miller hospitalized as details of withdrawn ASX prospectus awaited

Aug. 9 (BusinessDesk) - Insured Group, the Australian insurer which used Lombard Group for a backdoor listing on the NZX, has withdrawn a prospectus to raise $2.25 million in Australia but details of the announcement have been delayed because managing director Wayne Miller has been hospitalized.

The shares remain in a trading halt in New Zealand pending the announcement. Shareholders have approved plans to delist from the NZX and remain on the ASX and the capital raising was part of the change, with funds earmarked to repay debt.

“The trading halt was requested so that the company could provide an update to the market following a decision by the company to withdraw the prospectus which it had lodged with the Australian Securities & Investments Commission for the capital raising approved by shareholders on 9 March,” it said in a statement.

“Due to the hospitalization of Wayne Miller, the company has not been able to finalise this announcement,” the Perth-based company said. A statement is expected in the next 24 hours.

Insured Group last traded at 4 cents on the NZX and has jumped 100 percent this year.

(BusinessDesk)


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.