Comments made about escrow shares.Monday afternoon also...

Comments made about escrow shares.

Monday afternoon also represents a significant event for Latitude. Forty-two per cent of the issued capital in the company, about 430 million shares – which represented 65 per cent at the time of the float and has been locked up with its shareholders KKR, Deutsche Bank and Varde – will come out of escrow.

Mr Fahour said he had received commitments that the large number of shares would not be dumped on the market.

“They have indicated to me in the strongest possible terms that they are long-term holders, they love the company, they have invested in it substantially, and they are not going to do anything to hurt the stock price,” he told analysts on the results call.

It is expected that plans will be developed to sell some stock through an institutional bookbuild over the next six months.