NZX - NZ Exchange

[Balance]

http://nzx-prod-s7fsd7f98s.s3-websit...050/294326.pdf

Going backwards on every front in underlying activities - $20m (yes, $20m) raised in new initial equity raisings in whole of 2018!

ASX was A$31m for 5 months to Nov 2018.

Only area of growth is funds services.

But wait! There's all that lovely JVs & co-operative growth to come from NZX's relationship with Nasdaq, SGX, HK etc etc etc etc. ONlY problem is that there is NOT a sausage to be had so far from all that money spent to date!

https://www.radionz.co.nz/news/busin...strategic-plan

[Balance]

http://nzx-prod-s7fsd7f98s.s3-websit...050/294326.pdf

Only real area of growth is funds under management - another area where NZX should be assisting fund managers to increase funds flow instead of competing with them.

Out of ideas, out of room for growth and desperate to justify their fees and salaries - that's the NZX.

[BlackCross]

Financial highlights include:

o Total operating earnings of $28.1 million (operating earnings from
continuing operations $27.3 million);
o Continuing operations revenues and expenses relatively flat at $67.5
million and $40.2 million respectively;
o Net profit after tax of $11.6 million is lower than 2017 due to the
strategic decision to focus on our core capital markets business, resulting
in the disposal of non-core businesses (and the related impairments of $3.0
million). Disposal proceeds were returned to shareholders through a special
dividend of 1.5 cents per share;
o Total fully imputed dividend of 7.6 cents per share, including the special
dividend paid in September 2018, up 24.6% on 2017; and
o Full year 2019 operating earnings expected to be within a range of $28.0
million to $31.0 million.

[peat]

... and it certainly isnt lack of confidence in the Securities laws (he said sarcastically)

cleanliness of markets.JPG
it would appear our markets are at least as clean as Australia's!



Such a great yardstick.



Thanks for the link

[Balance]

Law firm Chapman Tripp have done their annual report on the NZX capital market.
The tone is generally positive.I was amused with the section on "myth busting", listing 5 "popular misconceptions"
for the lack of new listings.
Readers of Balance postings on this forum will be familiar with these misconceptions.

According to report, the real reason for a lack of growth in the NZX is; Err...dunno.
Download here;
https://www.chapmantripp.com/publica...-insights-2019

Ivory tower self interested and self serving commentaries & analysis of the dire state of the NZX - as revealed in today's results* - no growth, no idea and no direction.

NZX is but a monopoly which has buggered itself up because it buggered up the whole NZ stockbroking and capital markets by :

- excessive charges & fees,

- excessive CEO & directors' benefits and remunerations,

- lousy service,

- attempts to charge for lousy services,

- horrendously bad management (revolving staff policy of 'my way or the highway' wholeheartedly endorsed and supported by NZX board and shareholders),

- cynical and hypocritical application of NZX rules and regulations (remember Plus SMS?) and

- total lack of vision and ideas.

Remember this?

'NZX has grown from a small and threatened mutual exchange to a thriving information, markets and infrastructure business, with a range of integrated business lines, a healthy balance sheet and a valuable set of options for future growth' NZX Chairman Andrew Harmos in 2011.

A whole heap of Class 'A' BS - which probably helped Weldon to sell his shares at a great price though before he left NZX.

https://www.nzx.com/announcements/211972

There is only one trend for NZX - down, down, down.

* Nice enough dividend yield stock and nothing more.

[Balance]

https://www.nzx.com/announcements/330640

And here's another stock to exit the NZX soon - joining the 50 (net) which exited since 2015.

[Lola]

Law firm Chapman Tripp have done their annual report on the NZX capital market.
The tone is generally positive.I was amused with the section on "myth busting", listing 5 "popular misconceptions"
for the lack of new listings.
Readers of Balance postings on this forum will be familiar with these misconceptions.

According to report, the real reason for a lack of growth in the NZX is; Err...dunno.
Download here;
https://www.chapmantripp.com/publica...-insights-2019

Yes, I noticed that conclusion too. What an appalling admission of ignorance. What arrogance to even think about publishing their rubbish without offering some solutions. Did they not speak to anyone of ability in the sector, such as the clients of the NZX and the Investment Community?

The answers they might find are pretty simple and would include: Over zealous compliance regs, listing fees and on going costs by the NZX on any investigations into mostly trivial matters. These in turn lead to promoters, and entrepreneurs seeking capital, to avoid the NZX with pleasure.

Its a dog.

[Balance]

https://www.nzherald.co.nz/business/...ectid=12204230

And out comes the violin from one of Weldon's ex-cheerleaders, Brian Gaynor who praised Weldon's leadership to high heavens.

Even when Weldon was turfing out NZX executives, one after another because it was 'his way or the highway' - his highway being to gut the NZX to feather his own nest.

[Ggcc]

https://www.nzx.com/announcements/330640

And here's another stock to exit the NZX soon - joining the 50 (net) which exited since 2015.

Hey this one has been a disappointment for shareholders since the beginning. Big hopes and zero results. Never invested in this as I knew it would go nowhere. I feel for shareholders who paid for directors to fly around the globe at shareholders cost. This share won’t be missed

[Lola]

https://www.nzherald.co.nz/business/...ectid=12204230

And out comes the violin from one of Weldon's ex-cheerleaders, Brian Gaynor who praised Weldon's leadership to high heavens.

Even when Weldon was turfing out NZX executives, one after another because it was 'his way or the highway' - his highway being to gut the NZX to feather his own nest.

If Gaynor wanted to do a really useful / informative bit of investigative journalism on NZX governance during Weldons reign , he could do no worse than spend a bit of time digging through the sweetheart allocations of the IPOs in the period that Harmos was the Chair.