QEX Logistics Limited (NZX: QEX) Suspension of Quotation

NZ RegCo advises that it has exercised its discretion under the NZX Listing Rules and suspended the quotation of QEX ordinary shares. The suspension of quotation was placed pre-market open today.

The suspension follows the announcement by QEX that all QEX’s independent directors have resigned with immediate effect. As a result of those resignations, QEX currently only has one director, who is a non-independent director. This means that QEX no longer meets the NZX Listing Rule requirements relating to board composition, including the director residency requirement, independent director requirement and audit committee composition requirement. RegCo considers that a suspension is in the best interests of the market, given the intent and objectives of the relevant corporate governance provisions.

The suspension will remain in place until further notice.

Please see the links below for details:

QEX Logistics Limited (“QEX”) - Suspension of quotation

Source: QEX Logistics Limited and NZ RegCo

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:

PGW - Positive PGW Results in Improving Markets
TEM - Board appointment
VGL - Vista congratulates James Miller on FMA Chair appointment
RYM - Director resignation and committee chair appointment
MFB - Chair Succession
CNU - Update on constitutional ownership restrictions
CEN - Contact, CDC partner to explore data centre development
August 10th Morning Report
August 7th Morning Report
PHL - Promisia to acquire Chatswood Retirement Village