Friday, 15 May 2009


Apparently there is no love lost between NZX Mark Weldon and the Shareholders crusader Bruce Sheppard.

Anyway Bruce has been on the warpath and has done some analysis of a few companies and worked out about 7 are in deep schtuck.

He suggested that some are " sitting on the edge of a debt precipice. "

NZX says he should reveal who the companies are.

We find that a bit rich. Now we thought that was the job of NZX to monitor the continuous disclosure stuff. Make sure that investors were working with as much info about companies as possible.

So it appears one of the argument is about the disclosure of banking covenants. We think they should be .

Bruce responds here

Update : Cactus has a bloody good round up of the issue here too...

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