Oliver Mander: NZ Shareholders Association spokesperson on Winton Land's shares being suspended after board resignations
Residential and retirement property developer Winton Land has been suspended from the NZX after a board exodus.
Three directors have resigned after founder Chris Meehan quit as CEO in July - among them, former Finance Minister Steven Joyce.
Shareholders Association head, Oliver Mander, says losing independent directors meant the business no longer met requirements for being listed on the exchange.
"It's definitely not a technicality, it's a pretty core principle for a publicly listed company that exists on the exchange - there should be appropriate representation there."
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