trading halt, page-110

I am just following this stock ATM. Article below fyi from todays AFR.

Forge Group has not given up hope on a restructure or emergency equity injection deal, although a deal seems unlikely until the contractor can be certain about its earnings outlook.

Perth-based broker Euroz is understood to be working with Forge, taking over from Goldman Sachs which was in Forge’s camp as it worked through its equity and debt options late last year.

Forge is expected to update the market on its earnings on Tuesday, although it seems unlikely the announcement will be matched with an equity raising unless it can convince investors it has a handle on the numbers.

The group is thought to still be in discussions with potential white-knight equity investors, which should please major lender ANZ Banking Group. ANZ kept Forge out of bankruptcy in late November, when it put forward a last-minute rescue plan.

ANZ is understood to be calling the shots and keen on Forge shoring up its balance sheet with more equity. Insolvency firm KordaMentha was also involved.

United States-based distressed debt investor Anchorage Capital Group, best known in Australia for investing in distressed situations including Gunns and i-Med, was one investor that took a serious look last year.

Interested buyers were thought to be eyeing bids around the 50¢ per share mark, which Forge’s board thought seriously undervalued their company.

Forge shares rallied as high as $1.74 on December 31, but appeared to be headed lower before the company requested a trading halt on Friday.