market update annc out 2 proposals in place

Ann out at 5.53pm.....

2 proposals in place, hmmmm.... resulting in having minimal debt and substantially improved capital structure moving forward.

"Hastie Group Limited advises further to its ASX release of 11 May 2012 that the Company has today submitted two separate comprehensive recapitalisation proposals to its banking syndicate from two international groups. Both of the proposals would result in Hastie having minimal debt post recapitalisation and a substantially improved capital structure going forward. The Company will update the market of the outcome of these comprehensive proposals when the Banking Syndicate responds."