WARNING: Investment Statement Banned
DATE: 17 December 2010
OTHER INFORMATION: The Securities Commission has banned INNL's investment statement following the banning of INNL's website in 2010. INNL has made an illegal offer of shares to the public. There is no registered prospectus for the offer.
Commission Chairman Jane Diplock reiterated her earlier comments in relation to this company. "The public offer of shares by INNL is illegal as there is no prospectus. Any purported allotment of shares to investors would be void and of no effect. People should not invest in this company until it complies with the requirements of the Securities Act 1978."
WARNING: Illegal Share Offer
DATE: 8 December 2010
OTHER INFORMATION: The Securities Commission warns people of an illegal share offer by Ira NRG NZ Limited (INNL) and its sole director Simon Romana. The Commission has banned the company's website and the content of the website has been removed. There is no registered prospectus for the offer.
The website of INNL described INNL's plans to generate electricity and sell it to the national grid. The website included claims of future income that are not substantiated on the website. There were no assumptions disclosed relating to the prospective financial information as required by law.
"The public offer of shares by INNL is illegal as there is no prospectus. Any purported allotment of shares to investors would be void and of no effect. People should not invest in this company until it complies with the requirements of the Securities Act 1978" said Securities Commission Chairman, Jane Diplock.
INNL was incorporated in March 2010.
