Market regulator grants exemptions after Meridian disclosure muddle

Sun, 03 Nov 2013

Nov. 4 (BusinessDesk) – The Financial Markets Authority has granted exemptions to disclosure rules covering Meridian Energy’s instalment receipts after an overseas investor mistakenly disclosed a substantial holding in the newly listed power company. Bank of New York Mellon claimed an 8.12 percent holding in Meridian following its NZX debut last week, which was based on the 1.26 billion of instalment receipts on issue. But the power company subsequently clarified that 102 million receipts it held only amounted to 3.98 percent of its total sha...

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