http://www.nzherald.co.nz/business/n...ectid=10738763
Contrast the two statements :
"Continuing the commodities exposure available through NZX, the Clear Grain Exchange in Australia is demonstrating real momentum, with trading currently trading at four times the levels reached in the previous harvest." March 2011
"We've got another audit committee meeting coming up in June where we will look at what the actual numbers are as against the purchase price - the business is not performing well," he said.
"There is a substantial economic loss, there is a substantial cash flow loss in Australia." May 2011
And as per usual, Mr Weldon is nowhere to be seen or heard as this is not good for his image. The spin machine has gone into overdrive :
NZX chairman Andrew Harmos said it was not right to say the NZX was under investigation.
"It is not a big, sensational matter at all. It is normal routine inquiry ... and they are awaiting the outcome of our review which we will announce as soon as it is completed."
Accounting firm KPMG had been called in to compile a report for the NZX's audit committee, Harmos said.
Very careful use of words. Not a big sensational thing according to the spin machine. Why then bring in KPMG to compile a report? Will the audit committee answer the question why NZX, Mr Weldon and Mr Harmos saw fit not to advise the market that the Clear grain business is not doing well. Especially when Mr Weldon sold 2m shares after an upbeat AGM and brokers' presentations.