NBN contractor, Service Stream requests extension of trading halt

NBN contractor, Service Stream requests extension of trading halt

Seeks more time to clarify issues within its fixed communications segment

NBN contractor, Service Stream (ASX:SSM), has again requested a continuation of voluntary suspension trading on the ASX as it requires a further period of time to clarify a number of issues within its fixed communications segment.

It said, in a statement on the ASX, that the issues include the impact on its performance results of its Syntheo joint venture business with Lend Lease.

The company requested the voluntary suspension remain in place until July 8.

Service Stream claimed the company understood that its FY13 profit guidance will be impacted by the suspension but will provide an overall revised profit guidance, including the impact of the Syntheo Project review, at the time the suspension lifts.

Service Stream previously reported that it was “confident that an agreement on these matters will be reached with its financiers prior to finalising its financial statements for FY13”.

At the time of the suspension, Service Stream was trading at $0.14.

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Tags NBNcommunicationsASXtradingService StreamSyntheoSuspension


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