QEX - QEX Logistics

[ralph]

Totally agree nztx ,I think Ronnie will do what is best for him financially like most businessmen ,& the nzx cannot do much about that as shown, happen he needs more guidance .
A wee bit to play out yet but if he has no liabilities personally & covid carries on in the same or similar vein as it will for the next year plus then its a matter of time as he skims the top off .
Unless he decides having so much skin in the game he wants to persevere and sees the light at the end of the tunnel lol
This is where the nzx should be, getting him to making his intentions clear ,not focusing on punitive fines to make them look like they have teeth and are capable of doing their job .

[Balance]

Your lucky that Balance didn’t go back to 87 which many of us have long memories of. Some of the guys that ran the companies where investors lost a lot of money were given knighthoods.

Some of the class of 1987 would have learnt very valuable lessons from their bitter experiences. In a way it is a pity that the good ones mostly shied away from public listed companies after that because they have gone on and built successful private businesses. Guess that’s one lesson they learnt - keep a low profile.

[Rawz]

The whale that comes to the surface gets harpooned

[Balance]

Dates added above. How about modern times?? I mean Fortex is virtually 30 years ago

The finance companies were unlisted but some had their debt securities listed (eg. South Canterbury Finance) of course to gain the benefit of listing without the scrutiny. NZX & Securities Commission were asleep which allowed them to tap the capital markets.

[mfd]

Interest.co.nz have a porridge list of those convicted of financial crimes, for those interested. They also have a deep freeze list of expired financial companies.

https://www.interest.co.nz/saving/porridge-list

[Dassets]

The finance companies were unlisted but some had their debt securities (eg. South Canterbury Finance) of course to gain the benefit of listing without the scrutiny. NZX & Securities Commission were asleep which allowed them to tap the capital markets.

The finance companies are/were regulated by the Reserve Bank, hey didn't the Companies Office approve the offer docs(can't quite recall). Sec Com had more of an enforcement role and I think it did cover contributory mortgages. Debt securities on the NZX back then had a totally different set of rules from equity or listed companies.

With South Canterbury Sec Com blew the whistle for full time when the on field referee got lost in the Ashburton mist. Oh the good old days right everyone. No rules can stop straight out criminal intent and action.

[Balance]

Totally agree nztx ,I think Ronnie will do what is best for him financially like most businessmen ,& the nzx cannot do much about that as shown, happen he needs more guidance .
A wee bit to play out yet but if he has no liabilities personally & covid carries on in the same or similar vein as it will for the next year plus then its a matter of time as he skims the top off .
Unless he decides having so much skin in the game he wants to persevere and sees the light at the end of the tunnel lol
This is where the nzx should be, getting him to making his intentions clear ,not focusing on punitive fines to make them look like they have teeth and are capable of doing their job .

No CFO, No auditor, no independent director.

That's all you need to know that this company is dead.

And the NZX is busy handing out fines instead of doing something (anything) to bring clarity and certainty to shareholders!

[Sideshow Bob]

QEX Logistics - delisting update - NZX, New Zealand’s Exchange

[Not The Chosen One]

QEX Logistics - delisting update - NZX, New Zealand’s Exchange

So, exactly what Ronnie wants without paying fines and late notice penalties because NZ RegCo/NZX can basically be taken for a ride by any cowboy in town

[Brain]

“NZ RegCo CEO Joost van Amelsfort: “Cancelling QEX’s listing and quotation is not an action taken lightly by NZ RegCo. It means QEX shareholders will lose the potential to trade their shares on-market, and the benefit of the protections under the Listing Rules.”

I am struggling to work out what the benefits of protection are under the listing rules.

Maybe he had his tongue in his cheek when he said this.