Gunns Limited Shares Suspended For Capital Raising
Gunns Limited activities include forest management and development, milling, processing, merchandising and the exportation of wood products.
The Company also merchandises hardware and building supplies, manages forestry based and vineyard based managed investment schemes, produces wine and construction services.
Small cap stock Gunns requested for its shares to be suspended for another four days as it continues to negotiate a capital raising.
The negotiations have been with major shareholders, a potential new investor and investment banks.
The company is trying to raise fund after Richard Chandler Capital decided not proceed with its proposed $150 million investment in the company.