NZX suspends IRG trades

Sharemarket operator NZX has suspended trading in securities of Investment Research Group (IRG), which failed to issue results on time.

NZX yesterday said that IRG had not provided it with full-year results for the period to March 31, which under NZAX listing rules had been due to be issued to NZX on June 14.

On June 15, IRG told the market that due to a change in personnel, reporting of the preliminary results would be outside the NZX release date.

On May 11, IRG said it had made an unaudited profit of about $175,000 for the financial year, but that was provisional and may be adversely affected by write downs in the carrying value of assets.

- NZPA