Costa Group asks ASX for trading halt

Michael DiFabrizio

SHARES in listed fruit and vegetable business Costa Group remained in a trading halt on Wednesday.

Costa Group, which last year added Nangiloc Colignan Farms to a citrus portfolio spanning Sunraysia and the Riverland, on Monday requested a trading halt on the Australian Securities Exchange (ASX) pending an announcement.

In a letter to the ASX, the company expected the trading halt could be lifted before the market opened on Wednesday.

However, Costa Group said on Wednesday it was not in a position to make the announcement “at this time” and requested suspension of its shares.

It expected the voluntary suspension would be required for up to five trading days.

“The company considers that it is appropriate that it enters into a voluntary suspension so that it can manage its continuous disclosure obligations and to avoid the market trading in (Costa Group) securities on a basis that is not reasonably informed,” a letter to the ASX said.

The ASX granted the request.

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