Australia's E&P Financial falls after regulator logs legal proceedings against co officer

E&P Financial

04/08/2023 02:29

** Shares of Australia's E&P Financial Group  EP1.AX  fall
as much as 9.4% to A$0.385, hitting lowest since April 20 
    ** Stock set to mark worst day since June 15, if losses hold
 
    ** The financial services co says Australia's corporate
regulator ASIC has informed an officer of E&P that it has
started legal proceedings against them in the Federal Court of
Australia
    ** Co says E&P and its subsidiaries are not parties to the
proceedings            
    ** Stock down 18.3% this year, as of last close

 (Reporting by Nausheen Thusoo in Bengaluru)
 ((Nausheen.Thusoo@thomsonreuters.com;))