Agribusiness Great Southern has extended its trading halt by one week as it continues to work on details regarding its 2009 managed investment scheme sales program and working capital requirements.
The company was due to release an announcement this morning however said it will now make a statement before the start of trade on Monday 18 May.
Shares in Great Southern last traded at 12 cents.
Earlier this year, Great Southern underwent a business restructure which included the puchase of MIS assets it managed.
MIS investors in two beef cattle projects accepted Great Southern's deal to relinquish their holding in the project in return for company shares. As a result, Great Southern owns the projects outright.
Meanwhile the majority of MIS investors in six plantation projects did not accept the deal.
Last month, Great Southern formally listed its three northern Australian cattle properties, which collectively hold around 100,000 branded cattle, for sale by public auction.
The Moola Bulla property was scheduled to go to auction in Darwin on 16 June 2009 while the Chudleigh Park and Wrotham Park cattle properties were due for auction in Townsville on the 19 June.
Great Southern earlier provided guidance on its second half year earnings for fiscal 2009, flagging a net loss of between $120 million and $130 million.
The company has a $380 million corporate facility debt, with $105 million due to be repaid or renegotiated by October this year.
