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
48.8¢ |
Change
-0.003(0.51%) |
Mkt cap ! $71.65M | |||
| Open | High | Low | Value | Volume |
| 49.0¢ | 50.0¢ | 46.5¢ | $80.58K | 166.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1584 | 48.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 49.0¢ | 14248 | 1 |
View Market Depth
| Last trade - 15.47pm 13/11/2024 (20 minute delay) ? |
| SMN (ASX) Chart |