FMA warning not relevant to public – Du Val Group
The warning against DVCP and its parent Du Val Group was over a proposed debt-for-equity swap for unitholders in the mortgage fund pending a stock exchange listing.
The company, in a brief statement, says it made direct communication to a small group of investors in its mortgage fund.
“The fund is closed, and the communications have no relevance to the New Zealand public. Investors have received further communication to clarify statements that may have been misunderstood. ”
Distributions from the fund were suspended in January when investors were told it would be wound up and the cash distributions converted into units at a 25% premium to be put into a new company pending a potential public listing on the NZ Stock Exchange or an alternate.
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