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Home / Business / Companies / Tourism

MFS Living requests more time for half-year report

Tamsyn Parker
By Tamsyn Parker
Business Editor·NZ Herald·
3 Mar, 2008 04:00 PM2 mins to read

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KEY POINTS:

Financially troubled MFS Living and Leisure has asked for more time to release its preliminary half-year results to the market.

The dual-listed stapled security, which is 19.9 per cent owned by MFS in Australia, was due to have filed its six months to December 31 report by February 29 but missed the cut-off.

A spokeswoman said the company had applied for an extension but could not say when the results would be released.

Last month the company revealed it was in talks with prospective buyers to either refinance or sell off parts of the business to help pay back more than A$180 million in debt.

Buyers are understood to be interested in the company's aquariums and tree-top walks businesses which includes an $18 million planned walk near the South Island's Lake Brunner.

The spokeswoman said there was no update on the talks as yet. At the same time the company has also lost a number of its key staff members.

Chief executive Marshall Vann and chief financial officer Susan Davis both resigned last month.

The company has until the end of Friday to report to the NZX and the ASX or it will be suspended from trading until it can produce figures.

Last year MFS Living and Leisure failed in a takeover bid for Tourism Holdings, New Zealand's largest listed tourism operator.

Its share price closed flat on $1.10 yesterday.

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