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market regulation

Plus SMS fined $50,000; further investigation required

Suspended issuer Plus SMS has been fined $50,000 for breaching NZAX listing rules and faces further investigation for allegedly passing information to some shareholders without informing the entire market.

The NZ Markets Disciplinary Tribunal found Plus SMS, a would-be text messaging company, acted in breach of two rules when it failed to file its preliminary results by June 14, 2009.

The company is still in breach and remains suspended from the stock market.

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