trading halt - here we go!, page-35

Todays AFR states that ACL looks to have found plenty of takers for its $14.6 million placement through ABN Amro. The placement will be followed by a share purchase plan raising up to $5 million.

Expect the share price to be trashed when opening by so called sophisticated investors who will try and make a profit as quickly as they can sell.

This is the worst news possible for the company in their greedy dash for cash. Management has lost a lot of credibility and it could be a long time before the share price is seen over a $1 again.

Very disappointing.