Halt called on RMG shares

Listed debt collector RMG's shares were placed in trading halt today pending an announcement.

RMG has lost A$110 million ($119.66 million) in 4-1/2 years since rolling together 22 Australian and New Zealand companies.

It is listed in both countries. More than 40 per cent of its shares are held by New Zealand investors with Cullen Investments, the vehicle of London-based New Zealand businessman Eric Watson being the biggest shareholder.

RMG shares last traded at 2.4c and have ranged between 1.7c and 4.2c in the last 12 months.

- NZPA