SmartPay granted waiver

Last updated 12:00 15/07/2009

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SmartPay has been granted a waiver by NZX Regulation over issuing shares and paying annual consultancy fees to River Horse Consulting, a trustee firm associated with SmartPay's managing director Ian Bailey.

The listed electronic equipment firm said yesterday it had made a consulting deal with River Horse last year to issue 8 million shares, worth under $80,000, and pay an annual fee of $200,000.

In addition, a second tranche of 8m shares was to issued, subject to certain trading criteria.

The listed electronic equipment firm said yesterday it had made a consulting deal with River Horse last year to issue 8 million shares, worth under $80,000, and pay an annual fee of $200,000.

In addition, a second tranche of 8m shares was to issued, subject to certain trading criteria.

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