Published 8 March 2008 Investors in Feltex Carpets Ltd have filed a representative action in the Christchurch High Court against directors & advisors on the company’s 2004 prospectus. The representative compensation claim has been filed by law firm Wakefield Associates on behalf of Eric Houghton & Darryl Jones against: Tim Saunders, Waipara; John […]
Feltex
Securities Commission finds no fault in Feltex prospectus
Published 12 October 2007The Securities Commission has found the Feltex Carpets Ltd IPO prospectus in 2004 wasn’t misleading, but the company failed in some elements of disclosure. The commission inquired into the prospectus and the company’s compliance with financial reporting & continuous disclosure obligations. It concluded that: the IPO prospectus was not misleading in any […]
Robb conclusion leads Feltex investors to pursue recovery case
Published 1 August 2007 Accounting academic Alan Robb has described the Feltex Carpets Ltd 2004 IPO investment statement as misleading & deceptive, supporting a campaign to sue those involved in the float. And Chris McVeigh QC has recommended to litigation manager Wakefield Associates, of Christchurch, that it proceed to issue joint proceedings to recover […]
Feltex sale completed
Published 3 December 2006 Feltex Carpets Ltd’s receivers – Colin Nicol, Peter Anderson & Kerryn Downey (McGrath Nicol & Partners (NZ) Ltd) – have completed the sale of the company’s assets & operations to the Godfrey Hirst Group of Australia. On completion of the sale on Friday, the company’s name was changed to Exftx Ltd. […]
Godfrey Hirst cleared to take over Feltex
Published 1 September 2006 The Commerce Commission has cleared Godfrey Hirst NZ Ltd to acquire some or all of the assets of Feltex Carpets Ltd. Commission chairman Paula Rebstock said the commission was satisfied the proposed acquisition would not , or would not be likely to, substantially lessen competition in any of the relevant […]
Feltex shareholders to get 12c/share from sale to Godfrey Hirst
Published 2 August 2006 Feltex Carpets Ltd has entered into an agreement for the sale of its operations to the Godfrey Hirst Group of Australia.If Feltex shareholders approve the transaction and all other conditions are satisfied, Feltex shareholders should get back up to 12c/share. The price was 36c 6 weeks ago and got down to […]
