Hedley again stops share trade
FOR the second time in two weeks, Hedley Leisure and Gaming Property Fund has called a halt to its share trading.
The halt was called before the opening of trade on the Australian Stock Exchange yesterday morning while the company attempts to further reduce its debt.
With its shares at just 84c amidst continuing speculation about its debt levels, the announcement signed by company secretary Russell Daly said the "fund is in the course of finalising a number of divestment transactions in order to reduce the fund’s debt".
The trading halt lasts until tomorrow when the HLG says it will announce its
divestments.
When contacted by The Cairns Post yesterday Mr Daly said any comments should come from director Stephen Donnelley.
Mr Donnelley did not return calls yesterday. On March 6 HLG called a trading halt after questions from the ASX about reasons for its price drop but its price failed to recover when it resumed trading.
HLG reported at the time it had a debt exposure of $805 million to a consortium
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