Geo tipped into receivership

Former Geo executive chair Tim Molloy. (Image: Supplied)

Thu, 26 Sep 2024

Formerly listed software company Geo has been tipped into receivership by its lender.The company, which provides mobile-based software for trades and home businesses, delisted from the NZX this year, saying it could save up to $380,000 annually and free up 400 hours of management time.It said it had little liquidity in its shares so trading of shares was infrequent, meaning its listed valuation was lower than it could be as a private firm. In the end, 83.8% of its shareholders backed the move to delist at a special meeting in late January;...

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