QEX – Update on the Ministry for Primary Industries Charges

GENERAL

Fri, Apr 16 2021 09:23 am

Market Announcement
QEX Logistics Limited (NZX: QEX) – Update on the Ministry for Primary Industries Charges

QEX Logistics Limited (QEX) advises that the charges previously brought by the Ministry for Primary Industries (MPI) under the Animal Products Act 1999 against QEX’s subsidiary, New Y Trading Limited (New Y), and QEX’s CEO, Jinjie (Ronnie) Xue, will remain unchanged.

As disclosed to the market by QEX on 23 February 2021, the charges were previously under review by MPI and it was not clear at that point in time whether the charges would be dropped or if additional charges would be brought. MPI have now confirmed that the charges (as they stand) will remain.

The matter will go to trial but a date is yet to be set down. New Y and Mr Xue will be defending the charges.

This charges do not prevent New Y from continuing to trade.

Ends