Shareholders of Monadelphous Group Limited (ASX: MND) are facing a nervous wait after the mining services group placed its shares in a trading halt this afternoon.
The group, which provides engineering and construction services for companies in the mining sector, said that the trading halt was being requested pending an announcement regarding a "contractual claim against the company". No other details were provided regarding the nature of the claim.
The halt is expected to remain in place until the commencement of normal trading on Monday, or until an announcement regarding the claim is made.
As it stands, Monadelphous' shares are trading at $10.75, having plunged 35% over the last 12 months, and more than 62% since early 2013. Depending on the severity of the claim, shareholders could have a lot more to worry about than just a slowdown in the mining industry.
