Sydney - Thursday - April 3: (RWE Australian Business News) -...

Sydney - Thursday - April 3: (RWE Australian Business News) -
Hodges Resources Ltd (ASX:HDG) says it has continued to make enquiries
as to the number of the company's securities potentially affected by the
collapse of Opes Prime Group Ltd.
Hodges securities were placed in trading halt on Monday March 31
at the company's request, following notification from two directors that
a portion of their shareholdings were the subject to an equity finance
contract with Opes.
The company today said it could not provide surety of the total
number of its securities affected.
However, after an analysis of the share register and discussions
with shareholders, Hodges identified holdings which it believes may be
potentially linked to Opes, in the name of ANZ Nominees Ltd.
These holdings total 2.91m ordinary shares representing 6.3pc of
the company's issued capital.
Directors Mr Nathan McMahon and Mr Bryan Dixon have advised that
the portion of their notifiable interests potentially affected by the
Opes collapse is 2.26m shares and 421,000 shares, respectively.
Therefore, total Hodges shares held by related parties and
potentially affected by the Opes facilities is 2.68m shares,
representing 5.8pc of issued capital.
The shares of Mr McMahon and Mr Dixon are held in ANZ Nominees
accounts.
Key terms of the Opes facilities as understood by both Mr
McMahon and Mr Dixon were that of a standard margin loan facility,
whereby equity securities were given as collateral for funds advanced to
clients and a security value for the collateral was determined by Opes.
Current status of the Opes facilities on the ownership and
control of the securities subject to the facilities is unclear.
Hodges says it understands that ANZ claims ownership of the
securities subject to the Opes facilities.
The company has now sought release from the trading halt.