opes:circular irony, page-41

The mob that was going to do a back door listing with isn't happy either. This was released last night at 7:36.

STATEMENT BY RECO FINANCIAL SERVICES LIMITED (ASX: REO) IN RELATION
TO OPES PRIME GROUP LIMITED.
Market Update:
Reco Financial Services Limited (“Reco”) today announced that the Company has terminated the Share
Purchase Agreement dated 5 March 2008 to acquire financial services firm Opes Prime Group Limited
(“Opes Prime”) (the "Transaction") .
Reco decided to terminate the Share Purchase Agreement following the appointment of Administrators to
Opes Prime and on being informed by Grant Thornton Corporate Finance (the Independent Expert
commissioned by Reco in relation to Transaction) that the Independent Expert no longer considers the
Transaction to be fair and reasonable to the Shareholders of Reco.
Reco requested that the ASX place its shares in a trading halt on Friday 28 March 2008 immediately upon
being informed that Opes Prime was being placed in Administration.
The appointment of Administrators to Opes Prime has come as a complete surprise to Reco and its Directors
who were led to believe that Opes Prime was a profitable and solvent business.
Reco has reserved its legal rights in relation to the vendors of the shares in Opes Prime and Opes Prime in
relation to the Share Purchase Agreement and the Transaction.
Reco will advise its shareholders as soon as possible about future plans for the Company.
Media inquires:
Mark Furness
Last Word Corporate Communications
0419 275 504
[email protected]
www.lastwordcc.com.