Story image

Select Mega shareholdings subject to a Restraining Order...

25 Aug 2014

Shareholdings in Mega, amounting to 18.8% of Meg, registered in the names of two companies have been subject to a Restraining Order under the Criminal Proceeds (Recovery) Act relating to property associated with William Yan, previously known as Bill Liu, and other parties.

Mega CEO Graham Gaylard has today confirmed that these shares are now under the Official Assignee’s custody and control.

“The Police have commented that their action does not affect any innocent third parties (such as Mega) who have had business dealings with Mr Yan,” Gaylard says.

“Mega has been extremely diligent to ensure that all its operations are fully compliant with all legal and regulatory requirements. Mega does not undertake any illegal activities and does not wish to be associated with any such activity.

“Mega, as a limited liability company incorporated in New Zealand under the Companies Act 1993, is quite separate from its shareholders and is not responsible for the actions of shareholders or their finances.”

Gaylard notes that any funds received by Mega as subscription for new shares were paid to Mega’s lawyers by the shareholder’s lawyers via banks who operate stringent AML processes.

“Mega has never had any reason to suspect that such funds resulted from any illegal activity, and the Restraining Order will not affect the operations of Mega,” he adds.

“For us it is business as usual."

Yamaha unveils simplified UC deployments
"In this fast-paced world, meeting participants need to be able to feel comfortable and hear those on the far end clearly to brainstorm new ideas and accomplish goals."
French cloud giant sets up shop in two APAC data centres
OVH Infrastructure has expanded its public cloud services in the Asia Pacific (APAC) market operating from two data centres within the region.
Jobs of the future: Will humans outmatch AI co-workers
"Regardless of how the workforce changes, automation, data and algorithms will complement rather than replace human employees."
How IBM’s acquisition of Red Hat could impact your business
The acquisition is pending regulatory approval, but IBM expects the deal to close in the second half of 2019. 
SecOps: Clear opportunities for powerful collaboration
If there’s one thing security and IT ops professionals should do this year, the words ‘team up’ should be top priority.
Google doubles down on hybrid cloud strategy
CSP is a platform that aims to simplify building, running, and managing services both on-premise and in the cloud.
Why NSP adoption of ECX Fabric is on the rise
ECX Fabric aims to enable networks to streamline their access to the world’s largest cloud providers.
Cloud data warehouse trends and best practices
"TDWI sees a wide range of data-driven IT systems moving to the cloud aggressively, and this includes the data warehouse."