mccabe takeover, page-5

Have got the paper now...key points:

* strategic advisory arm of insolvency firm KordaMentha is working with Valad, which is negotiating with key lenders & McCabe

* rumoured to be called in by Combank

* Valad CEO says no comment. Says Korda not working at Valad Offices and Valad is not in default.

* One source indicated there was an expectation within Valad that McCabe would soon take control of company.

* Is struggling to raise equity, with shareprice below 10c.

* The issue of price for McCabe's debt/equity deal is still under negotiation.


The rest is background stuff... a trading halt prob required to clarify this article...