Confucius say; Man who have hand in till, must be standing still.
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Confucius say; Man who have hand in till, must be standing still.
This article appears to point to more possible problems for QEX!!??
"Last month, Chinese authorities detained 15 people in coordinated raids across the county. This came amid accusations criminal gangs have smuggled US$152.4 million (NZ$203m) worth of baby milk formula into China over the past two years, according to the South China Morning Post.
The report said in one of the raids 170,000 cans of baby milk formula originating from New Zealand were found in a warehouse while an Auckland-based courier firm allegedly had links to the smuggling operation"
GLH.
I hope the missing stock wasn't seized by the Chinese Government in these raids.
Ronnie going to allow you to vote for or against delisting from the NZX
And then sell the business to a third party ...hmmm
Mateship
http://nzx-prod-s7fsd7f98s.s3-websit...101/344683.pdf
QEX Logistics Limited (QEX) advises that it intends to delist from the NZX Main Board.
QEX is currently suspended from trading due to non-compliance with the NZX Listing Rules relating to board composition following the resignation of its independent directors. Despite ongoing recruitment efforts, several key factors have made it difficult for QEX to appoint the required number of qualified independent directors, with the relevant experience, to regain compliance with the NZX Listing Rules.
The company considers the delisting a necessary step to end this period of non-compliance and create a pathway to deliver the best possible outcome for its shareholders. If the delisting proceeds, a process will be undertaken to prepare and position the group for a third-party business sale.
GLH
Lambs to the slaughter
Poor holders -- sitting ducks for potentially the next instalment of getting QEX'ed over .. out of sight of any recognised exchange .. ;)
"position the group for a third-party business sale." maybe = hock the outfit off for a fire sale price or will that be major holder try to buy out at cents in the dollar - so all publically reported issues, warts, sins & stolen/missing stocks all very conveniently disappear under a pile of empty milk cartons ? ;)