The stock exchange has today suspended trading in the securities of NZAX-listed Propertyfinance Group (PFG) because it has not provided full-year results.
NZX Regulation said PFG's results for the year ending March 31 had been due on June 12.
Under listing rules if a company has not issued preliminary fullyear results within five business days of the due date, quotation of the company's securities is suspended until annual results are issued.
PFG is holding a special meeting next Monday for secured debenture stockholders to choose between continuing with a wind-down or receivership.
The group's principal subsidiary Propertyfinance Securities is in breach of a December 2007 plan, supported by debenture stockholders to reschedule stock, because it paid only $8.8 million of the $15 million that had been due to be paid by last December.
Propertyfinance Securities has $71.17m in secured debenture stock on issue, held by 2900 retail clients.
