Strategic in talks with Perpetual & BOS on moratorium

Thursday 13th November 2008

Strategic Finance managers and directors, who were thwarted in their attempt to acquire the company from Australian parent Allco HIT, are in talks about a moratorium with the trustee and BOS International.

"The moratorium proposal is likely to result in the cancellation of all dividends including dividends payable to perpetual preference shareholders until all principal and interest has been paid to prior ranking security holders," the company said in a statement.

Allco Hit this week appointed KordaMentha as receivers and managers for the group, excluding Strategic Finance and its immediate owner Strategic Investment Group.

By Jonathan Underhill

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