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Corporate Counsel and Company Secretary
Category: Generalists - In House | Location: Newcastle, Maitland & Hunter NSW
· Highly-respected, innovative and entrepreneurial Not-for-Profit · Competency based Board
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In-house Projects Lawyer | Renewables / Solar | 2-5 Years PQE
Category: Generalists - In House | Location: All Australia
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Insurance Lawyer (3-5 PAE)
Category: Insurance and Superannuation Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
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Category: Corporate and Commercial Law | Location: North Sydney NSW 2060
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Shine share limbo extended

Shine share limbo extended

stop sign

Shine Lawyers shares remain off the market, with the firm requesting suspension from the ASX after its previous trading halt expired.

On Tuesday this week, Shine Lawyers requested a trading halt for 48 hours while it finalised a revision to its earnings guidance for FY16.

As the halt period ran out this morning, the firm applied for and was granted a suspension from the ASX until the review could be prepared.

Shine securities will be “suspended from quotation […] pending the release of an announcement regarding the finalisation of its review of its Work in Progress recovery rates and the impact of this on the company’s FY2016 EBITDA guidance”, according to an ASX statement.

Company secretary Vicki Clarkson indicated the firm was working towards releasing its review and lifting the suspension on Monday.

The review is expected to include a “material reduction” in previous EBITDA expected for FY16, which was previously set at between $52 million and $56 million.

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017


Shine share limbo extended
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