3 August 2011
FMA has completed its inquiry into continuous disclosure issues in relation to comments made by Mr Mark Weldon, CEO of NZX Ltd, concerning the carrying value of its subsidiary Clear Grain Exchange.
FMA has considered responses from Mr Andrew Harmos, Chairman of NZX, and a NZX market announcement of 18 July 2011 as to the value of Clear Grain Exchange. FMA is now satisfied that NZX is not in breach of its continuous disclosure obligations as an issuer under the Securities Markets Act 1988.
FMA is also now satisfied that the recent sale of NZX shares by Mr Weldon was conducted in a manner compliant with applicable financial markets legislation.
FMA does not propose to take any regulatory action based on the information currently available to it in relation to these issues.