suspension, page-53

The rumour mill on this one seems to have a lot to say, going by media reports - but it doesn't seem to be getting any more positive...

http://m.theaustralian.com.au/OpinionNews/pg/0/fi295241.htm

Finally, Hastie Group is teetering on the brink, with its advisers at Macquarie struggling to secure investor support for a $130m capital raising to help pay down debt. It's believed the company, which last traded at 92.5c, had initially tried to launch a raising at 50c but was forced to lower it to 30c and is now talking about a 26c a share issue as it desperately seeks investors to buy into an expanded placement and entitlement issue.

Although lenders are yet to appoint their own investigative accountants to the company, administration and receivership are the options if a capital raising fails. ANZ and Westpac are the biggest lenders to the group, with Commonwealth,NAB, Bank of Scotland, HSBC and Ulster the other debt providers. The company has $270-$280m of gross debt and is expected to issue a steep profit downgrade in its December half results.