NZME fined $100k for three disclosure breaches

NZME fined $100k for three disclosure breaches
Dan Brunskill
NZME misled investors in market announcements it made about its attempts to acquire Stuff last year and the resignation of its board chair, an NZX Regulation investigation has found.In May last year, the media company told the market it had made an offer to acquire Stuff from Australia's Nine Entertainment, and that an exclusivity period was in effect.Nine quickly rebuked this in a release to the ASX, as it had terminated negotiations with the Herald publisher and was progressing a management buyout lead by Sinead Boucher – a fact tha...

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