Letters sent to Aorangi Securities’ investors

Letters being sent to Aorangi Securities’ investors

Letters are being sent shortly to the more than 400 investors in Aorangi Securities Limited to confirm details of their investments.

Richard Simpson, statutory manager of Aorangi Securities and partner of Grant Thornton New Zealand, said that they were making good progress in understanding both Aorangi Securities and the business interests of Mr and Mrs Hubbard.

“There is much for us to learn. Firstly, we must confirm the exact status of the 400 or more investors in Aorangi Securities while also learning more about the many business interests of Mr and Mrs Hubbard. We have had great co-operation both from Mr and Mrs Hubbard and all other parties we are dealing with.”

Mr Simpson said many investors have phoned for information. “We are responding to these calls with the upcoming letter that will provide an opportunity for investors to confirm their investment as at the date of the Statutory Managers’ appointment.”

“We are also ensuring the needs of Mr and Mrs Hubbard are well taken care of,” he said.

Mr Simpson said that the Statutory Managers would not make further comment in the short term until they had a much fuller understanding of all aspects relating to the statutory management.

ENDS

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