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NZSA: QEX de-listing 'worst possible outcome for shareholders'

The troubled logistics company announced its intention to delist yesterday. The New Zealand Shareholders’ Association has said QEX Logistics delisting from the NZX is “the worst possible outcome for shareholders”. QEX Logistics, whose shares have been suspended since mid-February, said in a stock exchange announcement yesterday that it would seek approval from the NZX and shareholders to delist from the mainboard. Chair Conor English and directors Danny Chan and Martin MacDonald resigned from the logistics company en-masse on February 18, all citing differences with chief executive and majority shareholder, Jingjie (Ronnie) Xue. QEX has said that despite ongoing recruitment efforts, “several key factors” had made it difficult for the company to

Stock Takes: Contact, Meridian cleared; Cavalier CEO resigns

Stock Takes: Contact, Meridian cleared; Cavalier CEO resigns 22 Apr, 2021 05:30 AM 6 minutes to read Meridian and Contact have been cleared following an investigation into the spilling of water from their South Island dams. Photo / Grant Bradley Meridian and Contact have been cleared following an investigation into the spilling of water from their South Island dams. Photo / Grant Bradley The Electricity Authority said it had found that neither Meridian nor Contact had breached trading provisions following an "undesirable trading situation (UTS)" complaint made by group of power companies. Haast Energy Trading, Ecotricity, Electric Kiwi, Flick Electric, Oji Fibre, Pulse Energy Alliance and Vocus claimed that a UTS involving the spilling of water from November 2019 through to January 2020.

Embattled QEX Logistics to seek delisting and sale

The company's shares have been suspended since February. QEX Logistics, whose shares have been suspended since its board resigned en-masse in mid-February, is looking to delist from the NZX. The logistics company said in a stock exchange announcement today that it would seek approval from the NZX and shareholders to delist from the main board. This was after its shares were suspended indefinitely on February 18 when it fell foul of listing rules following the resignations of chair Conor English and directors Danny Chan and Martin MacDonald. They all left citing “differences” with chief executive and majority shareholder, Jingjie (Ronnie) Xue.

Suspended QEX loses second auditor in less than a month

Suspended QEX loses second auditor in less than a month 8 Mar, 2021 08:53 PM 3 minutes to read Ronnie and Doreen Xue of QEX Logistics. Photo / Supplied QEX logistics has lost its second auditor in less than a month. The company said its auditor, RSM Hayes Audit, had resigned, effective from today. RSM was appointed on February 10 after the resignation of Deloitte. Read More Advertisement • The resignations of its independent directors and the company's non-compliance with the NZX Listing Rules. • The suspension of QEX's ordinary shares from trading on the NZX. QEX said the company is in discussions with potential replacement auditors. NZ RegCo, the NZX's regulatory arm, last month said formal investigations were under way into QEX on a number of matters relating to the company's compliance with listing rules and disclosure requirements.

NZX's NZ RegCo launches investigation into QEX

MPI brings charges against QEX subsidiary over exports

MPI brings charges against QEX subsidiary over exports 23 Feb, 2021 04:25 AM 3 minutes to read Ronnie and Doreen Xue of QEX Logistics. Photo / Supplied QEX Logistics has revealed that the Ministry for Primary Industries (MPI) has brought charges under the Animal Products Act against its trading subsidiary New Y Trading Ltd and QEX's chief executive Jinjie (Ronnie) Xue. MPI brought the charges in November last year. QEX said MPI is continuing its investigation and the charges are currently under review by MPI. Read More Advertisement New Y and Xue would defend the charges, QEX said. The charges allege that New Y and Xue in August 2019 attempted to export milk powder and honey without raising export declarations in MPI's e-certificate system in breach of the Animal Products Act 1999.

QEX shareholder upset, flying blind on 'grim news'

Shareholder would love to know ‘what the hell’s going on’ at embattled company.

Trading in company suspended after directors quit

The stock exchange regulator has taken the unusual step of suspending trading in a listed company after most of its board resigned en-masse.

QEX shares suspended indefinitely, directors mum on resignations

NZ RegCo says no maximum duration for a suspension of shares.

QEX shares suspended indefinitely, directors mum on resignations