This seems to be pretty basic stuff. Are the nzx not reviewing these
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This seems to be pretty basic stuff. Are the nzx not reviewing these
STephen Sinclair signed this disclosure to the NZX
http://nzx-prod-s7fsd7f98s.s3-websit...710/323281.pdf
He’s the cause of the problem ...not the NZX
Do you really expect the NZX to check every number that company representatives sign off?
The process of filing an announcement on the NZX is essentially logging in and the authorised person submits the document.
It is the authorised person's responsibility (and for those filed on behalf of an issuer, also the issuer's responsibility) to ensure that the announcement's are correct and the NZX does not fulfil the role of checking every single announcement.
Worth noting that not all announcements related to a security are filed by the issuer as SSH, takeover and other notices can be filed by other parties and that the NZX can file announcement such as trading halt or suspension notices.
The market surveillance and disciplinary functions of the NZX can require an issuer to issue a correction or where appropriate apply a penalty. There are other regulatory avenues if an announcement is materially misleading or intended to mislead that could be taken by the FMA.
Incorrect filings are nothing new to the NZX - this article from 2009 illustrates:
https://www.nzherald.co.nz/business/...ectid=10593604
I've always quite liked fudge but not in my financial statements.