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SRS 2.9¢

PPX what are they up to ?

  1. gse1963

    9,485 posts.
    Morn all any ideas on whats happening below would be appreciated . cheers ge

    Paperlinx shares placed in trading halt ahead
    Source: AAP
    Published: Wednesday June 26 2002, 9:15 AM

    Shares in PaperlinX Ltd were placed in a trading halt today at the request of the company.

    "PaperlinX is requesting a trading halt because it is aware of speculation regarding a possible significant transaction and associated funding arrangements, but it is not yet in a position to make an announcement," the company said in a statement to the Australian Stock Exchange.


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    In late May Paperlinx said it remained on the hunt for acquisitions in the United States and Europe, as it experiences signs of a pick up in demand for paper.

    At the time, managing director Ian Wightwick said Paperlinx was keen to build on its three per cent market share in the US with bolt on acquisitions and to begin to establish a major presence in Europe in the year ahead.

    Paperlinx has about $400 million in its war chest, a strong balance sheet and had seen evidence of a rise in demand for its paper products, which include Reflex, and more stable paper prices.

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    Today, PaperlinX asked that the trading halt remain in place until such time as it is in a position to make an announcement to the market concerning both the proposed transaction and the finalisation of the terms of any associated capital raising arrangements.

    "In any event, the trading halt will not last beyond the commencement of trading on June 28, 2002."


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