F & P shares in trading halt

Shares in Fisher & Paykel Appliances were put on a trading halt shortly after 9am today.

Previously Appliances said it was looking for a cornerstone shareholder.

Late last month the company said its banking syndicate had extended the date for repayment of an interim bank funding facility to this Friday.

Today , company managing director John Bongard said the company had sought a trading halt for two business days, until the start of trading on Wednesday, when the company would expect to make an announcement to the market.

Appliances had been reviewing its capital structure and examining alternative sources of capital, Bongard said.

Those initiatives were the subject of press speculation during the weekend.

Appliances had sought a trading halt because the capital management initiatives "in their totality" were incomplete and the company was not yet in a position to announce them.

- NZPA