Ann: Voluntary Suspension, page-84

Hi all,

not a rapper - but, thought some of you might be interested in this - which I posted for BRB recently as it may well half soon.


Suspension naturally follows on from a TA - or you can force it yourself I believe - anyway - it's worth reading on the why's of halts


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ASX
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Continuous disclosure continues to be front of mind for listed companies.
This is clearly evidenced by the Fortescue Metals case, renewed warnings by ASIC Deputy Chair Belinda Gibson and the "speeding ticket" handed out to Nufarm at the end of last year (to name just the most recent examples).
A new ASX Guidance Note aims to encourage the use of trading halts and voluntary suspensions to manage continuous disclosure issues – although it also highlights their limitations.
Background
Listing Rule 3.1 requires the immediate disclosure of price-sensitive information about a company.
This is subject to a few exceptions (such as where the information relates to a confidential and incomplete proposal). However, the scope of those exceptions is narrow and getting narrower.
So what should a company do if it's about to get into a price-sensitive situation, but can't make full disclosure to the market?
The answer is to seek a trading halt from ASX. This prevents trading in the company's shares on the basis of imperfect knowledge.
Trading halts are not the complete answer to the problem: they have to be individually negotiated with ASX, and they are very short term.
The new Guidance Note addresses one of these issues (by detailing ASX's policy on granting halts) but highlights the shortcomings created by the brevity of halts."

https://www.claytonutz.com/knowledge/2011/march/the-known-unknowns-trading-halts-made-easier-by-asx