St Laurence subsidiary property company Irongate has seen its share price on the Unlisted trading market slashed in half today.

Perpetual Trust put St Laurence Limited and some of its subsidiaries in to receivership in late April.

Today St Laurence issued a release clarifying that the collapse had no impact on Irongate, its management or any subsidiary companies.

However, Irongate’s share price on the Unlisted market plummeted by half, dropping from 8.5c at the start of today to just 4.4c at press time.

DNZ Property Group shares have been placed in a trading halt ahead of the results of a special shareholders meeting to decide the company’s future.

The shares, which are thinly traded on the unregulated Unlisted platform, were last quoted at 79c.

The group’s 8200 shareholders will this week vote on resolutions including new directors and steps needed for a capital raising plan involving a possible sharemaket listing.

Dunedin-based meat processor Silver Fern Farms has moved its share trading to alternative exchange, Unlisted.

This comes after the company’s shareholders this year agreed to constitutional changes leading to changes to its capital structure allowing ordinary shares to be traded for the first time.

Silver Fern Farms chairman Eoin Garden said the company recognised the value to investors of being able to see market prices for their shares and have a simple and effective trading option.

Escalator Advertising is likely to go into liquidation today, with creditors owed nearly $5 million.

The company is already in voluntary administration and receivership.

Escalator Advertising, which used to have its shares traded on the Unlisted exchange, has patents registered in 50 countries for its business idea: converting escalator steps to enable them to display advertising.

It went into voluntary administration last month, after Unlisted suspended its shares because the company had not paid its listing fees to the exchange.

The stock exchange has its work cut out striking a deal to buy rival company Unlisted judging by early feedback from minority shareholders.

NZX has started negotiations with 12 shareholders of Unlisted after last week announcing it has reached a conditional agreement to buy electricity derivatives company M-co.