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NZX bans Insured Group again

Insured Group has again been suspended from the New Zealand Stock Exchange for failing to lodge its annual report on time.

The WA broker was scheduled to lodge by September 30, but was allowed five days’ leeway.

The company had earlier said it would be late because it was finalising a debt restructuring deal with St George Bank. It expected to issue the report before October 31, MD Wayne Miller said.

Insured Group was suspended at this time last year for failing to lodge its 2011 report on time.

That trading halt lasted until November 25, when the report was finally released. It led to a $NZ50,000 ($40,205) fine by the NZ Markets Disciplinary Tribunal.

Insured Group shares last traded at $NZ0.015 ($0.012) on very low volume.