Australia's Earlypay sees best day in over 3-yrs on sale of RevRoof assets

Earlypay

24/02/2023 02:59

** Shares of Earlypay Ltd  EPY.AX  rise as much as 27% to
A$0.235, set for best day since Sept. 10, 2019, if gains hold
    ** Financing co announces sale of assets and business of
RevRoof Pty Ltd to Design Group
    ** EPY had stated "uncertainty" over A$29 mln ($19.35 mln)
credit to be recovered from its largest creditor RevRoof in Dec
2022. 
    ** Following the sale of RevRoof, co to recognise a specific
provision of A$9.6 mln ($6.55 mln) in the half year ending Dec.
31 2022 
    ** Co's shares hit highest since Jan. 17
    ** About 1.4 mln shares change hands compared to 30-day
average trading volume of 366,141 shares 
    ** Shares of co are down 7.5% YTD as of last close 
($1 = 1.4665 Australian dollars)
 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))