Trading, Money & Finance - Business news

Bec and lleytons kenthurst palace to sell for close to 5 million

pstrongAUSTRALIAN tennis legend Lleyton Hewitt and his former Home And Away star wife Bec have put their luxury Sydney mansion up for sale. /strong/ppThe secluded five-acre property in Kenthurst, in Sydneys northwest, is listed with Guardian Realty and is expected to sell in the high $4 million price range, selling agent Gavin Weekley confirmed to seven-bedroom family sanctuary features five bathrooms, a five-car garage, gymnasium, home theatre and childrens playground./ppAnd no tennis icons home would be complete without a tennis court, with the property boasting not one, but two tennis courts./ppIn 2007, Lleyton had one of the tennis courts resurfaced to replicate the same Plexicushion surface used at the Rod Laver Arena, according to span id="U62967051023GvE" style="font-this site:italic;"The Daily Telegraph/span. The other court is surfaced in synthetic grass. The home also has its own, private golf green and a huge outdoor pool./ppInside, a free-flowing layout spanning more than 930sq m of internal space is designed with custom timber finishes and hardwood floors, and finished with vibrant feature walls offering a splash of colour. The master suite has its own spacious ensuite and dressing room./ppThe celebrity couple reportedly paid $3 million for the two-hectare property at Binalong Rd, back in March 2006./ppThe sale of their Kenthurst mansion comes just a month after the couple listed their Melbourne penthouse. The six-bedroom apartment in St Kilda overlooks Albert Park Lake in the Yve apartment complex. It is offered for sale through expressions of interest with span id="U6296705102361B" style="font-this site:italic;"The Daily Telegraph/span reporting a price expectation of $9 million plus. Expressions of interest close today./ppLleyton, 35, and Bec, 33, have been married for 11 years and have three children together Mia, 11, Cruz, 7, and Ava, 6./p

Bellamys shares placed in trading halt after 500 million wiped from their value

TROUBLED baby formula maker Bellamy’s has sought to suspend trading in its shares for a week as the company, already in a trading halt, continues work on a trading update.

More than $500 million was wiped from Bellamys market value on December 2 after it revealed Chinese regulatory changes had dented its sales and profit was expected to not match the 2016 financial year.

Bellamys went into a trading halt on Monday and was due to release another trading update by Wednesday but instead has surprised the market by asking for a suspension of its securities.

The Australian Securities Exchange has granted Bellamys request to suspend trading until December 21 as the Tasmanian company finalises another trading update.

In a letter to the Australian Securities Exchange on Wednesday morning, Bellamys says a voluntary suspension is necessary for it to manage its continuous disclosure obligations as it finalises an update on the impact of trading conditions on its expected financial results.

Bellamys December 2 trading update said regulatory changes, which included restrictions on the number of baby products companies are allowed to sell in China, had triggered discounting by rivals that dented its sales.

The company said if conditions did not improve, its full-year profit could come in below 2015/16s $244.6 million.

That update unnerved investors and triggered a sharp sell-off that wiped more than $500 million from Bellamys market value which led to the ASX raising questions over the timing of the announcement.

Bellamys has insisted it has complied with the rules. It said the board considered its sales on November 22 but it wasnt until a board meeting on December 2 that the company finalised the updated forecasts and approved it to be released to the ASX that day.

Bellamys shares last traded at $6.68.