abc learning not looking good

The Australian Securities Exchange (ASX) says it is closely monitoring the actions of embattled child care company, ABC Learning Centres.

ABC Learning has suspended its shares from trade, announcing that interest has been expressed in part of the business.

Yesterday, shares fell 43 per cent on concerns about the company's $1.5 billion worth of bank loans and unimpressive half-year profits.

Some of the company's directors have told the ASX that they have sold parcels of shares in the last few days.

Martin Kemp has unloaded nearly three quarters of his 10.4 million shares - selling some a few days before the results' release.

Director David Ryan yesterday sold all of his 249,000 shares.

The ASX says it is keeping an eye on the company's disclosures during recent days.

Dave R.