Former finance firm completes full circle
GFNZ Group says it will revert to its old name of Geneva Finance and carry out a seven-for-one consolidation to boost its share price.
Geneva, as it was formerly called, was one of the first finance companies to go into a debt moratorium at the start of a string of company collapses in this sector in 2007.
It is one of the only large scale finance operation that successfully exited moratorium, paying its investors between 11% and 13% interest each month and repaying a total of $169 million (including $42 million of interest) to those investors.
The company says "the key benefit of returning to the Geneva brand is delivering a more positive connection with our key stakeholders and thereby adding improved value to shareholders."
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