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| Last 20 companies delisted from NZX | ||
| COMPANY | DATE DELISTED | REASON |
| CHOW GROUP LIMITED (CGL) | 29 Jun 18 | we understand majority shareholders John Chow and Michael Chow acquired the remaining shares in CGL through the Takeovers Code compulsory acquisition process for $0.60 per ordinary share |
| OCEANIA NATURAL LIMITED (ONL) | 29 Jun 18 | we understand the company delisted because it could not afford the compliance costs of being listed (estimated at $650,000 annually) and ONL had limited liquidity in its shares |
| TRILOGY INTERNATIONAL LIMITED (TIL) | 13 Apr 18 | we understand CITIC Capital China Partners III, L.P acquired all of the issued shares in the Company for the consideration of NZ$2.90 per share, payment to be made on 18 April 2018 |
| XERO LIMITED (XRO) | 02 Feb 18 | we understand the company delisted from NZX, because the Xero board of directors believed a sole listing on the ASX would achieve enhanced access to deeper capital markets, increased trading liquidity and a broader base of potential investors, critical to fulfilling the company’s aspirations |
| OPUS INTERNATIONAL CONSULTANTS LIMITED (OIC) | 10 Jan 18 | we understand WSP NZ Acquisition Limited was successful with an offer of $1.78 per Opus share |
| FLIWAY GROUP LIMITED (FLI) | 04 Jan 18 | we understand Singapore based Yang Kee Logistics Pte Limited was successful with an offer of NZ$1.22 cash per share |
| AIRWORK HOLDINGS LIMITED (AWK) | 15 Nov 17 | we understand Rifa Jair Company Ltd was successful with a takeover offer of $5.20 cash for all of the shares of Airwork Holdings Ltd that it did not already own |
| THE EUROPEAN INVESTMENT TRUST PLC (EUT) | 02 Nov 17 | we understand the company delisted because of the small and decreasing number of shareholders remaining on the New Zealand register as well as a reduced number of trades being undertaken on the NZSX, directors therefore determined that the costs associated with the Company’s shares remaining listed on the NZSX outweigh the benefits |
| G3 GROUP LIMITED (GGL) | 20 Oct 17 | we understand the board decided on a privatisation of the company given the NXT market had not achieved critical mass, shares were rarely traded and listing costs outweighed the benefits - major shareholders concurred and the company bought back the shareholdings of some minorities at a Buyback Price of $0.75 per share |
| INTUERI EDUCATION GROUP LIMITED (IQE) | 16 Oct 17 | we understand the company failed and went into liquidation - liquidators believed it was unlikely that any value would be realised from IQE shares, and it was not anticipated that there would be any opportunity to trade IQE shares in future |
| JPMORGAN JAPANESE INVESTMENT TRUST PLC (JFJ) | 04 Sep 17 | we understand the level of holdings retained by shareholders in New Zealand had diminished to less than 1% of the register and it was no longer viable to maintain the listing |
| TENON LIMITED (TEN) | 31 Jul 17 | we understand the company delisted following the sale of its operating assets and capital return of the bulk of the proceeds to shareholders (either NZ$3.8036 or US$2.6540, depending on the individual shareholder's currency election) - the company will shortly enter a voluntary liquidation process and it is expected there will be a further capital return later in the year |
| PUMPKIN PATCH LIMITED (PPL) | 08 Jun 17 | we understand the company, recently renamed Ex-PPL Limited, failed and is in receivership and liquidation |
| WYNYARD GROUP LIMITED (WYN) | 31 May 17 | we understand the company delisted following its failure and subsequent liquidation |
| CHATHAM ROCK PHOSPHATE LIMITED (CRP) | 15 Mar 17 | we understand Antipodes Gold Limited (AXG) merged with CRP and issued as consideration one Antipodes share for every 65.59 CRP shares - AXG then changed its name to Chatham Rock Phosphate Limited (CRP) |
| HELLABY HOLDINGS LIMITED (HBY) | 08 Mar 17 | we understand Bapcor Finance Pty Ltd was successful with an offer of $3.60 cash per share |
| APN NEWS & MEDIA LIMITED (APN) | 21 Feb 17 | we understand APN delisted because the number of shareholders on the New Zealand register represented a very small fraction of APN's total shareholders and there has been minimal trading on the NZX for some time. In addition, APN has demerged its New Zealand business, NZME, as previously announced to the market in 2016 |
| OCEANAGOLD CORPORATION (OGC) | 28 Dec 16 | we understand the company expected to realise benefits for shareholders by delisting from the NZX including a reduction in the Company’s legal and regulatory costs and that NZ shareholders could benefit from increased liquidity of the Company’s securities on the ASX - NZ holdings are now held in the form of CDIs |
