Brief: NZME Says New Zealand Commerce Commission Filed Court Proceedings Against NZME Advisory

NZME

15/12/2022 08:56

Dec 15 (Reuters) - NZME Ltd  NZM.NZ :
    * NEW ZEALAND COMMERCE COMMISSION HAS FILED COURT
PROCEEDINGS
AGAINST NZME ADVISORY LIMITED
    * PROCEEDINGS IN RELATION TO HISTORICAL SALE OF MAGNET SETS
ON
GRABONE WEBSITE
    * NZME IS REVIEWING CHARGES AND NZME HAS YET TO DETERMINE
POSITION
    * COMMERCE COMMISSION CONSIDERS THAT SALE OF MAGNET SETS WAS
PROHIBITED UNDER UNSAFE GOODS INDEFINITE PROHIBITION NOTICE 2014
    * NO CHANGE TO NZME'S EXISTING GUIDANCE OF 2022 EBITDA
    * PROCEEDINGS ARE NOT EXPECTED TO HAVE A MATERIAL EFFECT ON
FINANCIAL POSITION OR PROFITABILITY OF NZME
    * COMMERCE COMMISSION CONSIDERS THERE HAS BEEN BREACH OF
FAIR
TRADING ACT

Source text for Eikon:  ID:nASX4H7fpy 
Further company coverage:  NZM.NZ 
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