NZF, NEW ZEALAND FINANCE HOLDINGS LIMITED

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NZX must be in on the scheme. Corrodes their integrity just that much more while everyone watching can see the market isn't anything except aracket for the boys.

NZF should've been delisted yonks ago as well as being struck off the register. I have more cash on hand in the bank than NZF, no debt, higher earnings and no need to talk a load of crap to anyone.

Isn't the definition of insolvent that point where liabilities exceed assets? And the NZX don't do anything? In contravention of their own rules.

Just three days left to call that meeting after COB today.

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Nine business days left in the month. Even if the constitution says two weeks, he can't hold the meeting as said.

How come I'm not surprised?

How's he paying this months IRD payment?

Poooh. Can anyone else smell it?

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If he had any sense, IRD as well, wouldn't you offer them equity if the deal is that amazing? The alternative is missed payments, penalties and arrears followed by liquidation.

At least a promise to sell equity or charge a fee to the other side of the deal. But no. None of this. Instead we are told nothing while ostensibly everything sits in the NZX bowels.

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In Reply To: plastic's post @ May 9 2017, 04:52 PM

it is anticipated that a special meeting of shareholders will be called to
approve the capital and operational restructure during the course of April or
May.

Seems like it may be timed for Independence Day.

They're paying $7700 per month to the IRD. Where's the money coming from? They're broke! And why does the NZX allow this terd to stay listed?

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9th of May already! Just 16 business days left for this meeting to materialize. Will he or won't he?

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How are they paying the bills?

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End of April already! It's the NZX of course.

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April already. Where's the update? Just a little bit too convenient to be blaming NZX. I smell a rat in the kitchen.

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Heres the update.

Agreement has now been reached with IRD to repay the IRD an amount of $187,027 in aggregate. The sum is to be paid by twenty-four monthly instalments of $7,793. The first instalment is due and payable on 20 March 2017.

As at Sept 30th last year they had $44k cash and $97k other assets (whatever they are). The six months prior they had burned $156k in op.ex. and staff.

So if all things have remained constant, they are broke. Where is NZX censure?

the Company advises that: - the drafting of the Notice of Meeting, the Explanatory Memorandum and the Independent Advisers Report and Appraisal Report are well advanced; - it is hoped to have the aforementioned documentation forwarded to the NZX and to the Takeovers Panel for their review during the course of the next week;

Well advanced on March 7th. Meaning the week of the 13th documents were submitted. Meaning no later than the 17th. Meaning the NZX have been sitting on them for 12 days already. How long does it take to read them I wonder.

it is anticipated that a special meeting of shareholders will be called to approve the capital and operational restructure during the course of April or May.

Three more days and it is April. If the required notice of meeting is six weeks (possibly just two if the Constitution allows for it) then we are looking at the middle of May before a meeting is to be held and restructuring can occur. Meaning, at least two more payments to the IRD and ongoing listing and op.ex. costs when they are already broke.

Ahem. Somebody should let the NZX know there is something rotten at its core.

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This guy's full of crap. A meeting to be held mid-Feb. Yeah. Sure thing.

No money. No business. No plan. No word on a plan. No nothing. Not even a clue. If the NZX were worth their salt they would've evicted him by now. It's such a surprise the NZX is dying, isn't it?