NZX - NZ Exchange

[Balance]

A dog ate my notebooks, Sir...

Catch 22 isn't it - how do you demonstrate that they'd be significant without access to them to ascertain this?

Fascinating case. Should be some good drama ahead.

The FMA decided to clear NZX in August 2011 in respect of disclosure requirements over Grain - something about timing differences (re below).

Will be absolutely fascinating to see what comes out of the court case, and to see if FMA has prematurely cleared NZX of breach of continuous disclosures.

As for amount in dispute being immaterial, there will be many who will beg to disagree as NZX is suing (and being counter-sued) for at least A$20m.

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http://www.scoop.co.nz/stories/BU110...over-clear.htm

Excerpt : Fairfax Media reported Weldon as saying in court testimony that CGX was operating at a “substantial economic loss”, whereas its annual report, published in March, said Clear was "demonstrating real momentum, with trading currently tracking at four times the levels reached in the previous harvest."

NZX said in a subsequent statement that the court reference to economic loss referred to the 2009 and 2010 calendar years, and related only to CGX rather than NZX as a whole.

“The amount in dispute was not, and is not, considered material, consistent with the treatment of similar amounts in this business line, and others, over previous financial periods,” the NZX board said in today’s statement."

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[stoploss]

Busy week ....

http://www.stuff.co.nz/business/indu...hief-executive

[Balance]

Busy week ....

http://www.stuff.co.nz/business/indu...hief-executive

You can fool some of the people all of the time, and all of the people some of the time. But you cannot fool all of the people all of the time.

[Balance]

http://www.nbr.co.nz/article/nzxs-we...opens-b-188521

Agri-Bloomberg was his vision from acquiring Grain. At the first sign of trouble, as we saw with Diligent, he fled from the scene in case shxt stuck to him.

Tells one a lot about the state of the NZX today.

[Lola]

Busy week ....

http://www.stuff.co.nz/business/indu...hief-executive

Oh pity this didnt happen 3 months ago.! JK may have offered him the GGs job and let him loose on re structuring parliament. No better man to bring the number of MPs down 50% or more.

[Balance]

http://www.stuff.co.nz/business/7959...e-to-nzx-board

Excerpt : "Mr Weldon, who produced the [due diligence] reports for the board talked about that there'd been a reference to ProFarmer. He left out the relevant part. That is, that there was material kept from the board which it was not advised of."

If this is true, it explains why the dog ate Weldon's notes of the acquisition!

[drcjp]

It seems Speedo can't stop piddling in the pool.

[Lewylewylewy]

Complete change of subject, but could NZX.NZX be considered as a defensive stock. The reason being that as the economy collapses, interest rates drop to build the economy, companies see value in creating bonds, NZX gets more listing fees.

[Balance]

Complete change of subject, but could NZX.NZX be considered as a defensive stock. The reason being that as the economy collapses, interest rates drop to build the economy, companies see value in creating bonds, NZX gets more listing fees.

As the economy collapses, investors flee the stockmarket - which is where NZX makes most of its money. Interest rates as low as they are now should see companies creating bonds but they do not.

[Lewylewylewy]

I thought NZX gets a fixed fee from broker subscriptions?