Auckland, New Zealand, September 13, 2006--The New Zealand Stock Exchange has allowed Feltex to delay the release of its annual results until next Monday, according to Newswire.co.nz.
The troubled carpetmaker asked the market operator for a waiver until a decision is made on the future of the company.
In applying for the waiver, Feltex told the exchange's regulatory arm that releasing the result today came with the risk of potentially misleading the market.
Feltex says the choice between carrying on as normal or being put into receivership would have vastly different effects on the annual result.
The carpetmaker says it expects a decision on its future either later today or tomorrow.
Meanwhile Feltex says Sleepyhead's Craig and Graeme Turner and the ANZ Bank are continuing to work through their rescue proposal for the $51 million recapitalisation offer.
It says the proposal now differs from the one presented to the Feltex board last Thursday, but would have the same substantial outcome for shareholders.
