TASSAL LIMITED - Company Request for Suspension

  1. 4,756 Posts.
    TASSAL LIMITED 2002-06-26 ASX-SIGNAL-G

    HOMEX - Hobart

    +++++++++++++++++++++++++
    REQUEST FOR APPOINTMENT OF RECEIVERS AND MANAGERS AND REQUEST FOR
    SUSPENSION OF SECURITIES FROM QUOTATION

    Tassal Limited ("TSS") requests that ASX SUSPEND QUOTATION of Tassal
    Limited securities pursuant to Listing Rule 17.2 with immediate
    effect.

    REASONS FOR THE REQUEST FOR SUSPENSION OF SECURITIES FROM QUOTATION:

    Tassal Limited advises that at 8.00 pm today (25/06/2002) it was
    formally served with a demand for repayment of all monies owing by
    the Company to Australia and New Zealand Banking Group Limited (ANZ).

    The demand requires payment by 4.30 pm on 26 June 2002. In the
    opinion of the Board of Directors, Tassal Limited will not be able to
    meet this demand.

    Accordingly the Board of Directors of Tassal Limited has resolved to
    request that ANZ appoint receivers and managers pursuant to its
    registered charge over the assets and undertakings of the Company.

    LENGTH OF SUSPENSION:

    The length of suspension will be indefinite and until such time as
    otherwise advised by the Receivers and Managers appointed by ANZ.

    TERMINATING EVENT:

    As determined by the Receivers and Managers appointed by ANZ.

    NO REASONS FOR NOT GRANTING SUSPENSION OF SECURITIES FROM QUOTATION:

    The Company is not aware of any reason why the request for suspension
    from quotation should not be granted.

    OTHER INFORMATION:

    The Company is not aware of any other information necessary to inform
    the market about the request for suspension of securities from
    quotation.


    N Burrows
    COMPANY SECRETARY

 
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