The Auckland-based company posted an unaudited net loss of $4.59 million, with total losses from significant operations, operations held for sale and discontinued operations of $7.75 million. "The board acknowledge that there are uncertainties relating to rescheduling its debts repayments to the ANZ Bank," the notes say. The annual accounts also show ANZ Bank agreed to accept a reduction in monthly loan payments from July to September 2016 to $200,000 from $415,000. The bank advised Veritas that it will provide a term sheet reflecting a rescheduling of the group's repayment terms. In total, Veritas has to repay $16.5 million within the next year, and a further $16.7 million is due beyond that.

Source: New Zealand Herald August 30, 2016 04:30 UTC