NZX - NZ Exchange

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I hope its a takeover by the Aussies....

Nothing to attract an ASX takeover - the world and ASX have moved on while NZX has been going back to the future.

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Might be the Ralec Decision and its NOT good? Has anyone seen Mark?

Its not bad either!

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Its not bad either!

Eh - NZX initiated the litigation, spent $10m, got its name and governance dragged through a pigsty and won nothing.

One very very good thing however is that the case revealed and confirmed how the NZX was so badly managed for the short term benefit of one individual and a few at the expense of the long term future of the NZX and NZ.

[GTM 3442]

Eh - NZX initiated the litigation, spent $10m, got its name and governance dragged through a pigsty and won nothing.

Ah, a stunning victory the. Totally vindicated. Excellent news. Looking forward to the next salary review. . .

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Estimated total loss of $25m (plus unaccounted for loss of management time, energy etc etc etc) for NZX courtesy of Mark Weldon.

http://www.nzherald.co.nz/business/n...ectid=11750914

Mr Brian Gaynor acknowledges at long last that Weldon is no wunderkid - after blowing hot air up Wunderkid's arse when Mark was systematically looting NZX's future through gross mismanagement of the exchange. As long as the sp was going up, wunderkid could do no wrong.

WRONG!

As noted by one columnist :

"Weldon has the perfect background for Mediaworks. Ratings focused, driven, one way people management skills and effortlessly capable of building strong teams to enhance the shareholder value of an organisation.

Weldon has no background in media and the appointment suggests that TV producer director Julie Christie will continue to provide intelligence on the sector.

Such a comment by keyboard grump John Drinnan is particularly unfair.

NZX was the greatest reality soap opera in town under Weldon’s leadership, the casting couch of characters was enormous as disgruntled staff left and new bright eyed disciples were employed. Indeed Mediaworks currently does not employ anyone on your television or radio with a larger ego than Weldon, even Willie Jackson, Sean Plunket and Duncan Garner combined can’t compete. The clashes will continue to be ginormous and fill Drinnan’s column with rumours and innuendo for months on end."

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And BTW, Brian Gaynor still does not get why NZX is not performing today :

"Hopefully, the NZX will now focus on improving the performance of the domestic sharemarket. The market needs a major revamp because its rules and regulations best serve the interests of brokers, rather than the investors who use the market as a trading platform."

No, Mr Gaynor - the rules and regulations serve the interest of the NZX which, courtesy of Wunderkid, persuaded the government to allow NZX to continue to self-regulate.

Mr Gaynor had no complaints when Wunderkid was increasing NZX charges and fees relentlessly, paring back services and information to market participants especially retail investors, getting rid of management depth and experience in NZX via his one dimensional egoistic dictatorial management style - all in the name of a rising sp.

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So much for NZX setting an example for disclosures - this came after market close and we know why companies issue statements after market close.

So running from the battle with tails between its legs after blowing $25m, NZX blames the sorry saga on previous management - meaning Wunderkid Weldon who no doubt will be crying into his champagne bought from the bonus shares issued for his wonderful (as recognized by the sleeping Board of Directors at that time) management of NZX.

https://www.nzx.com/companies/NZX/announcements/293651

"NZX today announces it has settled all outstanding matters regarding the NZX Ralec litigation following the High Court’s decision released 16 November 2016. As a result, there will be no appeal by either party of the High Court’s decision. The litigation related to the acquisition of the Clear Grain Exchange (Clear) from Ralec Commodities Pty Ltd (Ralec) made by the previous management of NZX in 2009. NZX CEO Tim Bennett commented: “Today’s announcement means that NZX can finally move on and put this matter behind us once and for all, and direct our valuable resources to growing our business.”

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how has it settled? in other words if i may be so bold , what is the consideration for this settlement?

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how has it settled? in other words if i may be so bold , what is the consideration for this settlement?

Weldon settlement in his 'vineyard' reservation?

So much bull from the NZX and Wunderkid that there will be enough shxt to fertilize his vineyard for the next century.

http://www.findata.co.nz/Markets/NZX...n_Exchange.htm

[bull....]

http://www.nzherald.co.nz/business/n...ectid=11794238

nice article by gaynor.

diffenately nzx does nothing to encourage listings and liquidity is a joke most of the time as well. get a real exchange