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RFG is telling suitors it has a new partner, so why not let the market know?

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Many people are wondering what is going on with scandal-ridden Retail Food Group. Well they might too given it has had an almost 70 per cent rise in its share price in the past two and a half days.

The ASX certainly was. It asked the company on Monday as did various media outlets as the share price sky rocketed. RFG’s response was nothing to see here.


The big question is at what stage does continuous disclosure kick in? Share prices generally don’t soar for no reason so who knows what and has there been a leak?

The Age and Sydney Morning Herald can reveal that RFG and KordaMentha’s restructuring arm 333 Capital have been holding talks with a number of funds, local and global, about a possible debt and equity rescue package.

It is understood the funds were recently told their proposals were no longer being considered as it was now dealing exclusively with a local fund about becoming a strategic investor. That sounds like something the ASX and investors might have thought worth knowing in light of the recent share price movement.


© Brisbane Times