 |
|
 |
|
25 January 2000
News Release
MAX RESOURCES LIMITED (In Statutory Management)
A report on aspects of the affairs of Max Resources Limited (in Statutory Management) ("Max") has been released by the Securities Commission.
Commission Chairman Euan Abernethy says the report is the result of a lengthy and detailed inquiry conducted by the Commission and has been released after extensive consultation with affected parties.
The report is in two parts. The first part covers the accuracy and timeliness of reporting by some substantial shareholders of their interests in Max and comments on the directors' conduct in relation to certain transactions undertaken by Max in 1996, 1997 and 1998.
The second part relates to Max's published financial statements, including the audit of those financial statements. The Commission comments as appropriate on these matters.
The Commission believes the report will be of interest not only to the past and current shareholders of Max, but also to professional directors and others with an interest in good corporate governance and the efficient functioning of New Zealand's equity market.
The report can be viewed and downloaded here
Copies are also available from our offices at Level 12, Reserve Bank building, No 2 The Terrace, Wellington.
Contact:
Catherine Chapman phone (04) 471 7659
About
|
Publications
|
Notices
|
What's new?
|
International
|
Speeches
|
Site map
Search
|
Information for investors
|
Contact us
|
Accessibility
Disclaimer
Copyright
|
Privacy
|
newzealand.govt.nz
|
Home
© Copyright New Zealand Securities Commission