Sharechat Logo

Insured Group shares suspended from trading after again failing to deliver annual report

Tuesday 8th October 2013

Text too small?

Insured Group, whose shares last changed hands more than five months ago, was suspended from trading on the New Zealand stock exchange for failing to provide its annual report on time.

The Australian insurer used the shell of failed finance company Lombard Group for a backdoor listing on the exchange in 2010. It has been late filing its annual report every year since then, excluding 2010 when the accounts reflected the Lombard business prior to the takeover.

NZX Regulation said today that the company's latest annual report for the 2013 financial year was due by Sept. 30. A grace period of five business days had now expired and trading in Insured Group's shares has been suspended, effective this morning, the regulator said.

Shares in Insured Group last traded April 26 at 1.5 cents, valuing the company at $325,000.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
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:

Insured Group to make partial payment to St. George Bank, shelves prospectus
Insured Group head Miller hospitalized; prospectus withdrawn
Insured Group shareholders agree to de-list from NZX
Insured Group looks to delists from NZX, targets fresh capital in Australia
Insured Group fined and censured

IRG See IRG research reports