Cynotech to delist from NZAX
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Cynotech Holdings has advised sharemarket operator NZX that it no longer wants to be listed on its exchange.
Cynotech currently trades on the NZAX market operated by NZX. NZAX is a lower cost marketplace, designed for small to medium-sized, fast-growth businesses.
"Shareholders need to be aware it is the board's intention that Cynotech Holdings' equities will still be listed, just that this may be on an alternate exchange," the company said today.
Its shares resumed trading after the announcement. They had earlier been halted.
The company reported a loss of $2.7 million in the 15 months ended March 2010. Allan Hawkins, former head of Equiticorp, is chairman, chief executive and a major shareholder in the company.
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