Australia's Boom Logistics falls as former CEO investigated on funds misuse

Boom Logistics

04/09/2025 06:48

** Shares of Boom Logistics BOL.AX drop as much as 4.1% to A$1.3, their lowest level since July 18

** Lifting services provider says internal inquiries on former CEO Ben Pieyre's alleged misuse of company funds were undertaken when he resigned in July

** Co says investigation so far shows less than A$1 million ($649,800.00) was misused, of which it has recovered A$246,720

** Around 97,317 shares traded so far, 2.4x 30-day average

** Stock last down 3%, bringing YTD losses to 4.7%

($1 = 1.5389 Australian dollars)

 (Reporting by Shruti Agarwal in Bengaluru)

 ((Shruti.Agarwal@thomsonreuters.com))