Landmark White shares fall to 9 cents on return to ASX
Embattled property valuation group Landmark White made its long-awaited return to the ASX, with its shares trading at 9 cents.
Its return follows being hit with two cyber-attacks earlier this year when confidential home loan information was posted illegally on the web.
Yesterday the group's share price was down around 50 per cent to $0.09 per share from its prior trade. They've been trading at $0.10 over the morning session.
LandMark White shares previously traded at 18¢, before the company requested a trading halt on July 6 following its second privacy security breach.
The company had recently undertaken a $5.4 million capital raising last month at 8¢.
The shares were trading at 34 cents at the beginning of 2019 and at 44 cents a year ago.
Acting chief executive Tim Rabbitt, who will stay for the foreseeable future, admits it had been often harrowing over the past seven months.
Landmark White forecasts it will reduce its annual loss from $15.1 million to $1.5 million. They said the data breach will cost the company up to $7 million.
The group, which values home loan applications for banks and independent lenders, was initially hit with a data security breach in late January, which led it to be suspended from the panels of the four major banks and smaller lenders.
LandMark White returned to trade on the ASX in May, but was hit again with further confidential information posted on the web.
It is not believed that the NSW Police has charged anyone.
