jump to navigation

Bluefreeway Trading Halt May 6, 2008

Posted by David Gillespie in industry news, web 2.0.
Tags: , , ,
trackback

Beleaguered digital group Bluefreeway today requested a trading halt, its shares having sat at 24 cents since the ASX closed last Friday. The ASX then suspended shares and issued an announcement saying they would remain on halt until Wednesday morning or until the company issued an announcement on its expected earnings for the financial year ending June 30th, 2008, whichever came sooner.

Last month Mitchell Media confirmed speculation it had been looking to buy the group of companies but pulled out after “preliminary” conversations. Bluefreeway had previously told the Australian Stock Exchange it had entered due diligence with a single entity This came on the back of CEO Richard Webb finally stepping away from the group of companies he helped found the month prior.

It has been an extraordinarily unfortunate year for the group, one that shows no signs of improving. The company had already warned markets on the costs of funding the redundancies currently being served to select employees, but we’ll know in the next 36 hours where the company actually stands.

For those needing a primer on the Bluefreeway so far this year

Advertisements

Comments»

1. Bluefreeway receives voluntary suspension « Wide Open Spaces - May 7, 2008

[…] Bluefreeway requested and received a voluntary suspension from trading today. Their shares had been on hold since last Friday after a request for a temporary trading halt was approved Monday. The halt was due to expire this […]


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: