Babcock and Brown shares suspended from trading

jialiren

Babcock and Brown shares suspended from trading
November 24, 2008 10:14am
http://www.news.com.au/heraldsun/story/0,21985,24696707-5012062,00.html



SHARES in investment manager Babcock & Brown have been suspended from trading.

The stock was set to resume trading today after the company call for a trading half last Thursday.

B&B had called the halt while it negotiated a dispute with a bank about the release of a "material" deposit.

"The securities of Babcock & Brown will be suspended from quotation immediately, at the request of the company," the Australian Securities Exchange said in a statement.

In a statement, B&B later said it was still trying to resolve the dispute.

"The reason for the suspension is that Babcock & Brown is still seeking to resolve the dispute with a bank, which holds a deposit of a material amount, relating to the release of that deposit," it said.

"Babcock & Brown is in continuing discussions with its banking syndicate in relation to a restructure of its corporate banking arrangements.

B&B said it should be in a position to make a further announcement next week.

"It is expected that the suspension will end when B&B is in a position to make a further announcement in relation to those discussions and negotiations, which is expected to be early in during the week of December 1."

B&B shares last traded at 25 cents.

lyrixyang

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