The troubled logistics company announced its intention to delist yesterday.
The New Zealand Shareholders’ Association has said QEX Logistics delisting from the NZX is “the worst possible outcome for shareholders”.
QEX Logistics, whose shares have been suspended since mid-February, said in a stock exchange announcement yesterday that it would seek approval from the NZX and shareholders to delist from the mainboard.
Chair Conor English and directors Danny Chan and Martin MacDonald resigned from the logistics company en-masse on February 18, all citing differences with chief executive and majority shareholder, Jingjie (Ronnie) Xue.
QEX has said that despite ongoing recruitment efforts, “several key factors” had made it difficult for the company to
The company s shares have been suspended since February.
QEX Logistics, whose shares have been suspended since its board resigned en-masse in mid-February, is looking to delist from the NZX.
The logistics company said in a stock exchange announcement today that it would seek approval from the NZX and shareholders to delist from the main board.
This was after its shares were suspended indefinitely on February 18 when it fell foul of listing rules following the resignations of chair Conor English and directors Danny Chan and Martin MacDonald.
They all left citing “differences” with chief executive and majority shareholder, Jingjie (Ronnie) Xue.