Exactly this.
The reality is that BOT have received material information from the FDA. Now if this was a straight up rejection, why did they not just release straight to market? For the ASX actually requires that interruptions to trading be kept at a minimum, so BOT would have to release immediately.
However a TH has been requested, which means they have material info - but can’t release immediately for some reason. It seems the ASX agreed with BOT since they approved a TH (no the ASX does not need to approve a TH and will only do this in agreement with company - they will not give a TH just to build anticipation or for the company just to release at appropriate time for them etc)
Now what is this situation? Could be outstandingly positive and could be negative and anything in between.
Could be
… on approval we have accepted T/O BOD need to get together and hash out detail as before accpeting offer
…FDA requires some more stuff (just little things) from BOT before date of approval.
…and various other scenarios in between
DYOr and all that
Ann: Trading Halt, page-191
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Mkt cap ! $751.1M | |||
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