Plus SMS suspended for late report

Trading in NZAX-listed Plus SMS Holdings Ltd has been suspended by the regulatory arm of NZX.

NZX Regulation said the company has not provided NZX with its preliminary announcement for the year ended March 31, which was due on June 12.

NZX Regulation also had concerns about the company's corporate governance structures.

The Securities Commission said earlier this month that Plus SMS misinformed the market in 2006 but said it had no power then to do anything about it.

The regulator of securities markets said recent events concerning Plus SMS, unrelated to its investigation, prompted it to issue the release.

Plus SMS announced last month that its entire board had resigned then later said the market was erroneously advised chairman Robert Hunter had resigned. Most of the board returned.

- NZPA