NZ RegCo publishes investigation report into NTL

NZ RegCo publishes investigation report into New Talisman Gold Mines Limited

17 March 2022 – NZ RegCo has today published a report following an investigation of New Talisman Gold Mines Limited (NTL), in relation to:

• a capital raise undertaken by NTL in 2019;

• NTL’s disclosures regarding the acquisition of Broken Hill Historic Gold Mine Limited in September 2021; and

• the composition of NTL’s board and audit committee following changes to NTL’s board in October 2021.

NZ RegCo’s investigation concluded that NTL breached several NZX Listing Rules as a result of these events. NZ RegCo determined to pursue an educative, rather than enforcement, outcome in relation to NTL’s breaches.

The investigation report sets out a summary of the scope of NZ RegCo’s investigation and its findings. It also sets out best practice guidance on matters relating to calculating issuance
headroom, disclosure of entry into material transactions, and board succession planning.

A copy of the investigation report is attached.

For further information, please contact:
Joost van Amelsfort
NZ RegCo, Chief Executive
T: 04 498 2278
E: joost.vanamelsfort@nzregco.com

About NZ RegCo
NZ RegCo is an independently governed entity, responsible for monitoring and enforcing compliance by listed issuers and accredited market participants with NZX’s market rules. To
learn more about NZ RegCo please visit: www.nzregco.com

Announcement PDF