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GFNZ gains banking covenant breach waiver; writes off $2.4m more
Thursday 30th of June 2011
In mid-June, just after GFNZ released its results revealing the covenant breach, the Financial Markets Authority (FMA) ordered it to stop issuing debentures under its May 12 prospectus while it investigated.
GFNZ managing director David O'Connell says that prospectus would have expired today in any case and his company had already voluntarily withdrawn the prospectus before the FMA actio...
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