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View All NewsAustralia – Recruitment firm to leave administration and re-list
After more than a year in administration, Australian recruitment firm HJB Corporation Limited (HJB: ASX), formerly Hamilton James & Bruce Group Ltd, will be reinstated to official quotation following the suspension of its securities from official trading on 2 September 2013.
Following the restructure and recapitalisation of the company, HJB Corp’s securities are expected to be reinstated to official quotation on Monday 20 October2014.
On 12 September 2013, Scott Turner was appointed as the Deed Administrator to assume control of Hamilton James & Bruce Group Ltd and its subsidiaries. On 24 December 2013, following approval by creditors, the company entered into a Deed of Company Arrangement (DOCA) with the Deed Administrator, in accordance with the terms of the DOCA was authorised to investigate the restructure of the company’s capital with a view to re-listing the company on the stock exchange.
Pursuant to the terms of the DOCA, four company directors were removed as officers of the company, effective from 7 July 2014.
In the company annual statement, for the year ending 30 June 2014, HJB Corp reported revenue of AUD 1.4 million (USD 1.2 million), against AUD 40.1 million (USD 35.1 million) during the previous year. The company reported a loss before finance costs and impairment of AUD 1.7 million (USD 1.5 million), compared with a loss of AUD 8.8 million (USD 7.7 million) last year.