VIL - Veritas Investments Limited

[winner69]

The full force of the NZX comes down on Veritas ...wow

https://www.nzx.com/files/attachments/268000.pdf

[Balance]

The full force of the NZX comes down on Veritas ...wow

https://www.nzx.com/files/attachments/268000.pdf

Stunning rebuke huh? $50,000 fine for not disclosing pertinent material, potentially devastating information, to the market.

But it is mitigated because VIL had legal advice! So it is not really at fault!

Notice how the NZX and FMA only really ever take on the weak, almost dead or already dead - those with bugger all fight left in them?

For the others, it is always 'out of court' settlements with no admission of wrong doing - Milford, Fay Richwhite etc.

Put a QC in front of the pathetic pimple faced bureaucrats of the NZX and FMA, threaten them with personal retributions should they exceed their jurisdictions and watch them fold like a tent or reach for the 'out of court' settlements.

And the NZX wonders why the average person out there think the NZX is a bloody joke.

[Brain]

Reflects very poorly on the abilities of the directors particularly Hunter and Cook. I sold my shareholding in Veritas at a loss a while ago but I am still exposed to abilities of Hunter and Cooke by the way of my shareholding in Plexure.

[Balance]

Reflects very poorly on the abilities of the directors particularly Hunter and Cook. I sold my shareholding in Veritas at a loss a while ago but I am still exposed to abilities of Hunter and Cooke by the way of my shareholding in Plexure.

What VIL did not disclosed was very crucial information.

The share price at that time would have been impacted much more adversely if the information was fully disclosed.

Sp then was 22c, now 8c.

Interesting that Salt Fund actually increased its stake in VIL post the announcement.

Ouch!

[Balance]

https://www.stuff.co.nz/business/980...-shuts-up-shop

Another Mad Butcher franchisee closes shop - looking grimmer by the day!

[Beagle]

http://www.nzherald.co.nz/business/n...ectid=11941547

I give it 6 months tops.

I've had a couple of chats with Aaron Drever. I think he's a likeable enough young rouge that didn't have enough checks and balances around him when he was a real estate agent. One wonders where the principal of the firm he was working for was in terms of giving him guidance in terms of his career...happy enough to take his cut of the vast commissions coming in but not prepared to try and keep his effervescent enthusiasm in check and make sure from a procedural point of view Aaron was sticking to the right protocols ?

I hope he does okay out of his new venture. He lost his father a while back as noted by Balance in the post above and lost a very lucrative career in real estate.
Give the guy a break. I might go and buy some tasty sausages off him and have another chat and see if he's still enjoying his black Chrysler SRT8 as much as I'm enjoying mine.

[percy]

Retail requires someone who puts customers first ,has first rate suppliers, and great staff,and has the capital to achieve the business's goals.
A retail business needs good margins to pay its huge overheads.
Short change customers,suppliers,staff,landlord,or IRD,etc and he will be history very quickly.
With no background in this type of business, his chances of success are slim.
Watch out for a cheap SRT8.

ps.
Retail
1st year.....loss.
2nd year....breakeven.
3rd year.....modest profit.
If you are lucky,reasonable profit in year 5.

[Brain]

Aaron Drever - 9 adverse disciplinary findings and then stripped of his real estate liscence.
It would be interesting to know what the problems were. From what I have read in the media it would be possible to take the view that the real estate agents disciplinary tribunal would generally err on the side of the real estate agent. These must have been serious matters surely.

[Beagle]

Retail requires someone who puts customers first ,has first rate suppliers, and great staff,and has the capital to achieve the business's goals.
A retail business needs good margins to pay its huge overheads.
Short change customers,suppliers,staff,landlord,or IRD,etc and he will be history very quickly.
With no background in this type of business, his chances of success are slim.
Watch out for a cheap SRT8.

ps.
Retail
1st year.....loss.
2nd year....breakeven.
3rd year.....modest profit.
If you are lucky,reasonable profit in year 5.

Yes its a tough game. Maybe he's cashing in already to build up his capital...not many of these bad boys come on the market https://www.trademe.co.nz/motors/use...1463856402.htm Perfect car for a likeable rouge.

Brain - He was too young and took on too many listings. You won't hear of the hundreds and hundreds of satisfied customers. The guy was selling vast numbers of houses and was a real go getter...earning over $1m a year in commission. He didn't follow correct procedures on many occasions as he took on too much work.
Like I said yesterday, he should have had FAR more guidance and mentoring from the principal of the firms he was working for.

[winner69]

Punters still waste their time to go the ASM

https://www.stuff.co.nz/business/995...-butcher-owner


In the meeting, Stranaghan​ asked Veritas chairman Tim Cook if the company was heading for liquidation.

Cook said: "That does not mean liquidation at this point... But I give no assurances or guarantees."