ABS a.b.c. learning centres limited

abc learning extends trading suspension

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    March 04, 2008
    ABC Learning Centres Ltd has requested its shares be suspended from trading for one more day while it continues talks with a potential buyer of parts of its business.

    ABC Learning had initially expected to lift the current three-day suspension on trading in its shares tomorrow.

    Trading in ABC's shares is now expected to resume on Thursday.

    The current suspension follows a two day trading halt that began last week after the childcare giant first received approaches from a so far unidentified suitor for parts of its business.

    "ABC wishes to inform the market that the discussions are still continuing and the voluntary suspension is now expected to last for a period of four trading days with trading in ABC securities recommencing on Thursday March 6, 2008,'' the company said today.

    ABC boss Eddie Groves is currently in the US where it is believed he is in negotiations to sell off the company's American assets.

    Last week ABC was hit by panic selling of its shares and Mr Groves and three other directors were forced to dispose of some of their personal holdings as a result of margin calls.

    The sell-down was sparked by disappointing first half financial results.

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