Thursday 17th March 2022 |
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17 March 2022 – NZ RegCo has today published a report following an investigation of New Talisman Gold Mines Limited (NTL), in relation to:
• a capital raise undertaken by NTL in 2019;
• NTL’s disclosures regarding the acquisition of Broken Hill Historic Gold Mine Limited in September 2021; and
• the composition of NTL’s board and audit committee following changes to NTL’s board in October 2021.
NZ RegCo’s investigation concluded that NTL breached several NZX Listing Rules as a result of these events. NZ RegCo determined to pursue an educative, rather than enforcement, outcome in relation to NTL’s breaches.
The investigation report sets out a summary of the scope of NZ RegCo’s investigation and its findings. It also sets out best practice guidance on matters relating to calculating issuance
headroom, disclosure of entry into material transactions, and board succession planning.
A copy of the investigation report is attached.
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