Troubled live exporter Wellard has voluntarily suspended its shares, pending the release of an announcement about a proposed recapitalisation and restructure.
The suspension follows the company putting its shares into a trading halt on Monday, foreshadowing the announcement, which was planned for Wednesday but is now set to be released by Friday.
The announcement relates to discussions Wellard is engaged in to recapitalise its business or restructure its operations, including its position with its convertible noteholders.
Shares were valued at 2.4 when the halt was called Monday morning.
The stock has plummeted 40 per cent from 4 since June 11 when the company revealed a default had triggered a hike in repayments of its debt of $15 million…
Read the full article at: https://thewest.com.au/business/agriculture/wellard-suspends-shares-ahead-of-recapitalisation-plans-ng-b881248698z