TRS - THE REJECT SHOP LIMITED

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There is something definitely funny going on here. We still haven't had a AGM notice despite the call for directors closing on the 6th.

 

The Companies Act requires a AGM to be held no more than six months after the accounting period. In this case that's September end.

 

Usually, a company's constitution requires the close of director nominations to be between two and three months ahead of the AGM. Not earlier and not later than.

 

The AGM notice must be no less than two weeks before the AGM. Still time there. About three weeks.

 

Unless the constitution is different from the norm or they have received an undisclosed NZX waiver, then they are in breach of their own constitution.

 

It's strange they are providing any notice at all about anything. They haven't done so for a long time.

 

The sooner this pox is given its medicine the better.

 

 

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Unless the constitution is different from the norm or they have received an undisclosed NZX waiver, then they are in breach of their own constitution.

 

Did breach their own constitution it should say. By having the closing date for directors so late it put them under the two month directive. But that is only if they hold the AGM at Sept. end. Any earlier and its blatant. Any later, they need the waiver to hold the AGM later than statute allows.

All very strange. But its not as if the NZX, FMA or anyone else is going to give a rats and actually do anything about it.

 

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So despite getting new directors and shareholders and a little bit of lifeline capital and after years of trying, this pig company can't find another company that is suitable to back into the shell.

 

Seems just a little bit hard to believe if you ask me.

 

 

https://announcements.nzx.com/detail/363968

 

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Director nominations closed August 4th. One month later we still have no AGM notice for a broke and insolvent company trading at 0.001 cents in a dollar.

 

Just a little bit whiffy.