Friday, 23 February 2018

Announcement

HALT: CBL: CBL Corporation Ltd ("CBL") - Trading Halt of Securities

05 Feb 2018 09:35NZX
Memorandum

To:  Market Participants
From:  NZX Product Operations
Date:  Monday, 5 February 2018
Subject: CBL Corporation Limited ("CBL") - Trading Halt of Securities

Message:
NZX Regulation ("NZXR") advises that further to the memorandum released on
Friday, 2 February 2018, and the announcement released by CBL this morning,
the trading halt on CBL Corporation Limited ordinary shares ("CBL") will
remain in place until an announcement by CBL regarding its expectations with
respect to a capital raising (anticipated to be on or before Thursday 8
February 2018), at which time it is likely the halt will be lifted.  The halt
will be lifted by no later than market open on Friday 9 February 2018.

CBL has advised NZX that CBL has received the results of a report it
commissioned in respect to its reserving, and the recommendation of this
report is to strengthen the reserves of CBL''s French business. CBL has
advised NZX that the Board of CBL considers that a capital raising is
appropriate to strengthen reserves and also to ensure sufficient capital
strength to enable CBL to continue its growth. A process is currently
underway with respect to adjustments to reserving and major shareholder
discussions; accordingly, CBL has requested that a trading halt be put in
place to ensure an orderly market for CBL''s shares while discussions with
major shareholders take place.

Please contact NZX Product Operations on +64 4 496 2853 or cds@nzx.com with
any queries.

ENDS
End CA:00313757 For:CBL    Type:HALT       Time:2018-02-05 09:35:02
Views: 122
CBL Corporation Limited Ordinary Shares
 3.170 Change:
0.00
0.00%
 
Open:3.170 
High:3.170 
Low:3.170 
Volume:0 
Last Traded:07/02/18 09:09:54 
Bid:2.500 
Ask:2.770 
52-Wk High:3.850 
52-Wk Low:2.750