Doubtful. Trading halts can either by instigated by the ASX (in certain circumstances) or at the Company's request. Anything therefore being done to try and better inform the market /shareholders would be considered a good thing. So, the ASX would not reject any request coming from the Company.
As to this morning's suggestion that there had been a trading halt, I doubt that this ever occurred (even though it should have). There was nothing showing on /via CHI-X. Nor anything that has since come up on ASX. It might however have been an overloading /reloading issue on one or more of the broker platforms (especially the DIY trading platforms).
With 84M shares so far traded today, added to yesterday's volume of 77M (161M+ since yesterday), we are well into the 50+ turnover territory today (assuming 1x churn, only).
Since last Thursday, the following turnover has occurred:
Date
Open
High
Low
Close
Volume
Adj Close*
1
26 Nov 2015
1.92
1.94
0.90
0.94
77,023,100
0.94
2
25 Nov 2015
2.04
2.04
1.91
1.94
6,415,400
1.94
3
24 Nov 2015
1.98
2.10
1.94
2.00
13,066,800
2.00
4
23 Nov 2015
2.65
2.65
2.15
2.15
17,276,500
2.15
5
20 Nov 2015
3.08
3.12
2.63
2.68
9,099,300
2.68
6
19 Nov 2015
3.26
3.32
3.03
3.05
6,609,300
3.05
That's 213M shares trade din the last 6.1/2 trading sessions, or 60% of the Company's issued share base, and counting.
In such circumstances, the ASX would ordinarily welcome a Company requesting a trading halt, to help explain, clarify or update matters /circumstances. The longer this goes on however, the worse it potentially becomes if indeed there is an upcoming trading halt for any reason (ie: within the next few days), as the immediate question will be - why then the delay?
As said before, Investor Relations does not have a very good grip on any of this and for such a media savvy company as is SGH, that is arguably a damning indictment.
SGH Price at posting:
70.0¢ Sentiment: Hold Disclosure: Not Held
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