Sydney - Wednesday - April 2: (RWE Australian Business News) -...

Sydney - Wednesday - April 2: (RWE Australian Business News) -
ComTel Corporation Ltd (ASX:CMO) today estimated 10.5m of its shares had
been affected by Opes Prime margin lending facilities, representing
7.9pc of the company's issued share capital.
Managing director Mr David Sweet has advised ComTel that his
associated entities had a loan facility with Opes Prime secured by 1.51m
shares in the company.
Mr Sweet has advised that this facility had a gearing ratio of
less than 25pc.
The rest of the shares were held by unrelated parties.
"The company understands that as a result of the appointment of
receivers to Opes Prime, third parties currently have rights to dispose
of the securities that are the subject of the margin lending facilities.
"In addition, it also understands the margin lending facilities
have been terminated," ComTel said.
"A broker acting on behalf of the receiver of Opes Prime has
been in discussions with potential purchasers of the ComTel shares held
by the receiver and that those discussions may lead to a sale of the
ComTel shares at a mutually agreed price