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VTL GROUP LIMITED (VTL)

Delisted NZX 20/09/2010

Former (or subsequent) names

Shareholder links

COMPANY WEBSITE:

 

REGISTRY:
Computershare, Level 2, 159 Hurstmere Road, Takapuna, Auckland
Tel : +64 9 488 8700
Fax : +64 9 488 8787
RegistryWebsite RegistryEmail

Company details

Address: Level 18, Forsyth Barr Tower, 55-65 Shortland Street, Auckland, NZL
Tel:  64-9-356-4110 Fax: 64-9-356-4133

Date first listed: 11/01/2000
Company Secretary: David Steytler
Sector: Consumer Industry Group: 
Activities: Develops and franchises technology and systems for vending machines

delisted after NZX Market Supervision (NZXMS) advises that VTL ordinary shares will cease to be quoted, and VTL will be delisted from the NZSX, as of the close of business on Monday, 20 September 2010. VTL has been in suspension since being placed in receivership on 6 November 2008. VTL is being delisted as part of a process that NZXMS is undertaking to delist issuers that have been in long term suspension on NZX markets20/09/2010
receivers expect that the secured creditor will suffer a shortfall and therefore unsecured creditors and shareholders will not receive a distribution16/07/2009
New Zealand Markets Disciplinary Tribunal censures VTL for its breach of Listing Rule 3.4.3 (this concerned a director of VTL, Mervyn Doolan) - in addition NZMDT made an order that VTL pay to NZX a sum of $30,000 by way of penalty and costs of $10,000 together with all of the costs of NZMDT - so of course the penalty is effectively levied against VTL shareholders - should not the errant director be penalised and the victims of his behaviour (ie. the company's shareholders) be the beneficiaries??25/03/2009
the Securities Commission has laid criminal charges and issued civil proceedings against Nathans Finance directors John Hotchin, Donald Young and Kenneth Moses - criminal charges and civil proceedings have also been filed against a fourth director believed to be resident in Australia23/12/2008
securities suspended06/11/2008
securities reinstated to quotation14/02/2008
according to a PriceWaterHouseCoopers report "the Nathans receivers have reached agreement with VTL Group Limited to continue providing limited funding to enable it to continue to trade pending the sale of certain of its business units, including vending machines, by way of a managed process of releasing value over time. Proceeds generated from the business sales will be used to reduce VTL Group Limited debt due to Nathans"29/11/2007
securities suspended as the company has advised it is insolvent20/08/2007
name changed from Vending Technologies Limited15/03/2004

NZX Announcements (courtesy of NZX)

 

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    Directors' share transactions (last 5)

     

    Click here for the last 20 transactions all companies

    Directors & Executives (current)

    NAMETITLEDATE OF APPT
    Gary StevensChairman
    Mervyn DoolanManaging Director
    John HotchinDirector
    Roger MosesDirector
    Donald YoungDirector

    Date of first appointment, title may have changed.

    Directors & Executives (former)

    NAMETITLEDATE OF APPOINTMENTDATE OF RESIGNATION

    Date of first appointment, title may have changed.