Business

DNZ Property share trading suspended

07:01 am on 11 May 2010

Shares in DNZ Property Fund, which trade on the alternative unlisted market, have been frozen until after a special meeting of shareholders in the embattled company on Wednesday.

The board said the trading halt was prudent and it will continue until the results of the meeting were available.

Investors have expressed their anger throughout a nationwide series of roadshows about a proposal to pay $35 million to buy out the company's management contract, that is currently owned by chief executive Paul Duffy.

The meeting is at 10am tomorrow.