Apple Fields avoids stock exchange suspension

Apple Fields has avoided suspension from trading on the stock exchange after filing its half year financial results.

The results for the half year ended March 31 had been due on May 31. When Apple Fields failed to meet this deadline NZX Regulation gave them until the close of trade yesterday to file, or be suspended from trading.

This was the second time the company came close to suspension. It also fell foul of regulators in January when it was late filing its annual report.

The company's loss for the half year to March ballooned to $165,000, compared to a loss of $6000 for the made a loss for the same time last year.

Apple Fields said in a statement it operated at a minimal level during this period as it reinvented itself as a property developer.

- NZPA