Apple Fields suspended by NZX

NZX said Apple Fields' report for the half-year ended March 31 was supposed to be filed on June 30.

The horticultural company turned property development and mining investor ran into some financial problems last year, posting a $225,000 loss before unusual items and tax in the year to September 30, 2003.

Shareholder funds at year-end stood at just $42,000, down from $267,000 at the end of its previous financial year.

In July last year, subsidiaries of the company lost an appeal to the Privy Council over the mortgagee sale of land, which is now the Northwood housing development. At the time the company said the court costs made up the "greater proportion" of the $225,000 annual loss incurred.

Under the exchange's listing rules, trading is suspended if a company fails to provide its half-year report within five working days of its due date.

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.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Spark New Zealand appoints new director to the Spark Board
AFT to announce full year results on May 23 2024
CRP - Korella North Takes Another Two Steps Forward
May 3rd Morning Report
ASB workers to strike as bank proposes an effective pay cut
Rising tides, sinking stocks: study explores cost of climate change
May 2nd Morning Report
AGL - Change in Senior Management
Devon Funds Morning Note - 01 May 2024
Rick Christie to step-aside as a non-executive director