NZX's SuperLife may end up controlling unprofitable, cash-strapped Energy Mad

Tue, 10 Feb 2015

By Jonathan Underhill Feb. 11 (BusinessDesk) - SuperLife, the funds management firm acquired by NZX in December, may end up with a controlling stake in unprofitable lightbulb maker Energy Mad after agreeing to underwrite a rights issue and subscribing for convertible notes. An independent assessment by Simmons Corporate Finance, on behalf of non-associated shareholders who must vote on the arrangements, deems the positive aspects outweigh the negatives. If fully subscribed, the rights issue would raise $2.09 million for Energy Mad for use...

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