Stormer is technically correct. However, a company can still request suspension of trading in its stock if it feels necessary. The ASX would likely grant it so long as it was a valid reason. A public company also has to consider Corporations Law and further ramifications of such a suspension. So usually no more than a further 5 days would be prudent because of the impact on future capital raising or other issues. In ACW’s case they actually had 4 full days to assess the information as it would be expected that most key executives would have been involved in the details over the weekend as well. They had the 2 days requested trading halt as well as the 2 days of the weekend to review the information.
ACW Price at posting:
4.1¢ Sentiment: Hold Disclosure: Held
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