Auckland, New Zealand, July 21, 2006--The New Zealand Shareholders' Association says it wants the Securities Commission to put Feltex's forecasts under a microscope as part of a probe into the collapse in the company's share price, according to the National Business Review.
Shares in Feltex are now quoted at around 22c - down 87 percent on the company's Initial Public Offer price of $1.70 per share when Feltex was refloated in June 2004.
The association's director for advocacy, Ross Dillon, says he would like to see the authorities make detailed studies of the carpet sector as part of the probe and would like the Securities Commission to examine the projections made by other carpet-makers over the same period of time.
The association initially complained about the company in May last year and this week wrote to the Securities Commission to follow up its complaint.
