Shares in Eric Watson investment company PRG will remain suspended for another month after the company said it could not produce its overdue audited result until mid-August.
PRG shares were suspended from trading last Monday because the NZX had not received its audited annual result to March 31.
They had last traded at $1.54, just 1c off a five-year low.
PRG Group did report full unaudited results to NZX on May 30, 2006 - at the time it said audited results had been held up by the unfinished sales audit of its former finance group, Pacific Retail Finance (sold to GE Finance in January for $145 million).
PRG's application for an extension was declined by the NZX.
The company said it was doing everything in its power to speed up the sale audit process but it remained reliant on third parties.
It had previously hoped this could be achieved by late July.
The PRG Finance sale process includes production of settlement accounts by the purchaser, audits by KPMG - the joint auditor for PRG Group and the purchaser - and finally a review by PRG Group's own auditor Deloitte.
Audited results are now expected by mid-August, at which point PRG Group could move to finalise its annual report.
PRG suspension stays in force
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