You are using an older browser version. Please use a supported version for the best MSN experience.

Pyne Gould's NZX suspension lifted

NZ NewswireNZ Newswire 12/06/2016 Paul McBeth

Pyne Gould Corp shares are allowed to trade again following a seven-month suspension, after the asset manager controlled by George Kerr filed its first-half results.

The Guernsey-based long-term investor's portfolio held net assets worth STG50.81 million ($NZ102.57 million) at the end of December, down from STG55.1m a year earlier, it said.

Pyne Gould reported a net loss of STG1.5m in the six months to the end of December from a loss of STG5.3m a year earlier, due to foreign exchange losses.

The first-half accounts follow last month's filing of the firm's long-delayed 2015 annual report, which was held up because of a change of auditors, followed by needing to consolidate its Torchlight Fund LP unit into its accounts.

That delay meant Pyne Gould missed NZX's deadline to file its 2015 accounts, resulting in the suspension of trading in its shares, the second year in a row it was censured.

While the annual report was filed last month, the halt stayed in place because the first half results were overdue.

image beaconimage beaconimage beacon