It's not the extension per se.
Last Wednesday SMN management requested a trading halt for 2 days.
On Friday they extended it for 1 trading day to Monday.
On Monday they extended it again for one day.
....and today they extended it again..
That IS the issue.
Something changed! I suspect a regulator told them they could not raise capital at a 35% discount to the market and management have tried to renegotiate the terms of the cap raise with the institutional investors.
Ann: Extension to voluntary suspension, page-8
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Last
66.0¢ |
Change
0.030(4.76%) |
Mkt cap ! $90.65M | |||
| Open | High | Low | Value | Volume |
| 65.0¢ | 75.0¢ | 65.0¢ | $173.5K | 255.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 16972 | 66.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 73.0¢ | 7500 | 1 |
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| Last trade - 16.10pm 31/07/2024 (20 minute delay) ? |
| SMN (ASX) Chart |