Vertex Group Holdings Limited - Market Surveillance Panel Investigation

The Exchange, in light of the announcement made yesterday morning by Vertex Group Holdings Limited (“VTX”), has referred the matter of VTX’s compliance with the Listing Rules, and in particular Listing Rule 10.1.1 (Obligation to Supply Relevant Information), to the Market Surveillance Panel (“Panel”) for investigation.

VTX’s announcement yesterday highlighted various anticipated shortfalls to forecasts for the six month period to 30 September 2002. These forecasts were contained in an Investment Statement and Prospectus dated 7 June 2002, released shortly before VTX listed on the NZSE on 1 July 2002.

A Division of the Panel has been convened, and further announcements will be made to the market as the Panel’s investigation progresses.

In addition, as yesterday’s announcement by Vertex may cast doubt upon the accuracy of the forecast financial information presented in the Investment Statement and Prospectus dated 7 June 2002, the Exchange has referred this matter to the Securities Commission for its further consideration, and the Exchange will continue to work with the Securities Commission on this matter.

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