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:

TWR - Capital Return - ATO Class Ruling Obtained
THL - FY25 Trading Update
April 17th Morning Report
EBOS announces opening of Retail Offer
MCY - FY2025 EBITDAF guidance revised to $760m
April 16th Morning Report
AIA - March 2025 Monthly traffic update
Ryman Healthcare FY25 full year results and webcast detail
CHI - Q1 2025 Operational Update
CNU - Q3 FY25 Connections Update