Date Released: August 12th 2021
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The NZ Shareholders Association (NZSA) has been working with concerned shareholders of New Talisman Gold Mines (NZX: NTL) for some time in relation to the conduct of its CEO, Matthew Hill, the current governance of the company and ongoing performance issues.
This has included a representation to New Talisman Gold Mines that NZSA does not support Matthew Hill remaining on the Board of the company.
We note that today, the Financial Markets Authority (FMA) has filed civil proceedings against Matthew Hill, the CEO of New Talisman Gold Mines, for alleged information-based market manipulation and making false and misleading representations.
This is the first information-based market manipulation proceeding brought by the FMA.
As always, NZSA has been supporting retail shareholders to ensure that their concerns are heard by the NTL Board and to advocate for board changes to support governance improvement. Today’s announcement by the FMA vindicates the position taken by NZSA and the group of concerned shareholders.
NZSA will continue to be instrumental in driving change at NTL, by continuing to work with New Talisman Gold Mines and concerned NTL shareholders.
This is an ongoing process, and we look forward to the upcoming annual shareholders meeting of the company to be held on September 22nd. We intend to communicate more fully with all NTL shareholders prior to the meeting, to highlight governance concerns and the position supported by NZSA.
NZSA offers a free proxy service that allows retail shareholder votes to be counted, including for any upcoming resolutions at the New Talisman Gold Mines shareholder meeting. Contact teresa@nzshareholders.co.nz for further information on this service and the registration process.