News
Fidelity bonds face interest suspension and possible liquidation
Tuesday 9th of August 2011
"Despite the best efforts of our fund manager, the value of the fund is not likely to improve materially," the manager told the stock exchange.
The NZDX-listed fund's market value has dropped from $88.5 million on July 29 to $81.3 million on August 4 and to $71.5 million on August 5.
That's well below the estimated $79.05 million threshhold to pay the next coupon on the 9.25% bond...
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