FINANCE

Warning: IRA NRG NZ Limited (INNL) investment statement banned

Friday 17 December 2010, 4:41PM
By Securities Commission
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The Securities Commission has banned INNL's investment statement following the banning of INNL's website earlier this month. INNL has made an illegal offer of shares to the public. There is no registered prospectus for the offer.

Commission Chairman Jane Diplock reiterated her earlier comments in relation to this company. "The public offer of shares by INNL is illegal as there is no prospectus. Any purported allotment of shares to investors would be void and of no effect. People should not invest in this company until it complies with the requirements of the Securities Act 1978."