Energy Mad censured, fined by Disciplinary Tribunal for not disclosing profit warning soon enough

Sun, 13 Oct 2013

By Tina Morrison Oct. 14 (BusinessDesk) – Energy Mad, a maker of energy efficient lightbulbs which has failed to meet prospectus forecasts, was censured by the NZ Markets Disciplinary Tribunal and fined $30,000 for breaching listing rules by not disclosing a profit warning soon enough. Energy Mad, which listed in October 2011, knew on December 2011 that it wouldn’t achieve $1.5 million of its $3.5 million 2012 prospectus forecast for earnings before interest, tax, depreciation and amortisation because of production and dispatch delays at its...

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