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This would have allowed Stock Exchange members to cold-call investors by phone, which is not permitted under the Securities Act. The Stock Exchange initially sought to allow offerings to be sold without delivering an investment statement to potential investors. Agreement has been reached with the Securities Commission on New Capital Market exemptions. However, the Stock Exchange said there had been no holdup at its end. Forsyth Barr, which is handling the Mowbray listing, said there had been a holdup with registering its prospectus because of on-going discussions between the Stock Exchange, Securities Commission and Companies Office. Companies Office records show that E-Opportunity has three directors, Glaister Ennor law firm managing partner Jack Porus, merchant banker Antony Bishop and Kiwi Income Property Trust director Ross Green. The Securities Commission says companies should not advertise an offer without a registered prospectus. E-Opportunity will not reveal details about itself or its key e-commerce transaction until the prospectus is registered. While Mowbray Collectables was the first to apply, it is understood E-Opportunity will have its prospectus registered by the end of this week, ahead of Mowbray, which is due to list before Easter. By FIONA ROTHERHAM E-Opportunity is likely to be the first listing on the Stock Exchange's New Capital Market.