Slater and Gordon suspends share trading on Australian stock market

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Slater and Gordon has suspended trading in its shares less than a week before it is due to publish its half year results.

With the Australian firm set to reveal its results for the half year ended 31 December, it has requested the suspension due to what it calls “certain material items […] which are not yet finalised, including, as foreshadowed in December, testing and assessment of the goodwill values for impairment of the UK business”.

The firm said that it would continue to work with external advisers in order to work out the issues with the outstanding material items.

In a statement to the Australian Stock Exchange, Slater and Gordon’s company secretary, Moana Weir, said that the move was an appropriate one given that the firm wanted to avoid share trading based by “not reasonably informed” investors. Weir said that trading would be resumed once the results were released on 29 February.

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Marek Handzel

Marek Handzel is the editor of Claims Magazine. Marek welcomes articles, letters, or feedback from readers and can be reached by emailing marek.handzel@barkerbrooks.co.uk