Sharechat Logo

Commission warns against offer by electricity generator

Wednesday 8th December 2010

Text too small?

The Securities Commission is warning people of an illegal share offer by Ira NRG NZ Ltd (INNL), a company which says it has plans to generate electricity and sell it to the national grid.

The commission has banned the company's website and the content of the website has been removed.

"The public offer of shares by INNL is illegal as there is no prospectus. Any purported allotment of shares to investors would be void and of no effect. People should not invest in this company until it complies with the requirements of the Securities Act 1978," said commission chairwoman Jane Diplock.

INNL's sole director is Simon Romana.

Mr Romana has had media coverage in the past in the United States for a machine which converts rubbish to electricity.

 

NZPA



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

PFI - Q3 Div & Upgraded FY25 Div Guidance, FY26 Div Guidance
AIA - Auckland Airport announces leadership team change
May 9th Morning Report
May 8th Morning Report
NZME Takeovers Panel determination
MNW - Commerce Commission clears the Contact Energy acquisition
May 7th Morning Report
General Capital Appoints New CFO
SUM - Summerset Considers Retail Bond Offer
SKC - Updated FY25 Full Year Earnings Guidance