QEX - QEX Logistics

[traineeinvestor]

Based on experience with other companies, the cost of getting new auditors on board a company in this position is likely to be significant.

Disclosure: not held

[nztx]

Based on experience with other companies, the cost of getting new auditors on board a company in this position is likely to be significant.

Disclosure: not held

Are there still some around that are either blind, deaf or stupid or any combination thereof .. and prepared to sit over the QEX roaster ?


(and no offence intended to the deaf, blind or otherwise challenged out there .. )

[Brain]

Are there still some around that are either blind, deaf or stupid or any combination thereof .. and prepared to sit over the QEX roaster ?


(and no offence intended to the deaf, blind or otherwise challenged out there .. )

The problem is that current shareholders have no choice because the shares cannot be traded.

[ralph]

The problem is that current shareholders have no choice because the shares cannot be traded.

How long can this go on for surely there must be a time limit , especially for share holders to put up with this blatant disregard

[Brain]

How long can this go on for surely there must be a time limit , especially for share holders to put up with this blatant disregard

Yes I have been asking the same question and have been hoping that one of the many learned people on this forum could give an answer. Since it is very unlikely that Ronnie will be able to appoint a board ,CFO and new auditors I thought statutory management is about the only answer. We are waiting for the NZX and FMA to take action.

[winner69]

Think the NZX can just delist QEX

Don’t think Ronnie would mind if this happened

I take it they ain’t gone broke yet

[forest]

Think the NZX can just delist QEX

Don’t think Ronnie would mind if this happened

I take it they ain’t gone broke yet

Delisting likely good for Ronnie, less attention to his way of doing business.
I think Ronnie should explain a bit of his knowlege in the disappearing products.
What about the other shareholders?

[Brain]

Think the NZX can just delist QEX

Don’t think Ronnie would mind if this happened

I take it they ain’t gone broke yet

Totally agree that the company is probably not going broke and delisting would suite Ronnie but it would make the NZX even more of a mockery than it already if problems with the governance of a public listed company results in delisting rather than close supervision.

I have always been for NZ having its own stock exchange but examples like this make me think that maybe the exchange should be run by people who know what they are doing. The Aussies perhaps and I can’t believe that I have just written that.

[Food4Thought]

Hope Ronnie has some magic he has been saving up, to share with shareholders. Come on Ronnie.

Does he reside in New Zealand? Be applaudable if he made some sort of communication with shareholders.

[nztx]

The 16th April brought an update from QEX'ed:

https://www.nzx.com/announcements/370757

QEX – Update on the Ministry for Primary Industries Charges

16/4/2021, 9:23 am GENERAL

Market Announcement

QEX Logistics Limited (NZX: QEX) – Update on the Ministry for Primary Industries Charges

QEX Logistics Limited (QEX) advises that the charges previously brought by the Ministry for Primary Industries (MPI) under the Animal Products Act 1999 against QEX’s subsidiary, New Y Trading Limited (New Y), and QEX’s CEO, Jinjie (Ronnie) Xue, will remain unchanged.

As disclosed to the market by QEX on 23 February 2021, the charges were previously under review by MPI and it was not clear at that point in time whether the charges would be dropped or if additional charges would be brought. MPI have now confirmed that the charges (as they stand) will remain.

The matter will go to trial but a date is yet to be set down. New Y and Mr Xue will be defending the charges.

This charges do not prevent New Y from continuing to trade.

It appears that MPI still intend on putting New Y & Ronnie over their high temperature bar-b-que

Guess Ronnie won't have too much time to be bothered with anything else with that going on ..

(not that reporting or updates were much better before the current shambles blew up around their ears .. )