OFX does consider that some of the information relating to the Full Year Results to be information that a reasonable person would expect to have a material effect on the price or value of its securities
Interesting.
This can still go either way tomorrow, as share price spike before trading halt today could be because of: 1. Results are bad, but someone pumped up the shares, to then dump before release tomorrow 2. Really good results, increased trading in last quarter possibly for workarounds to US sanctions 3. Takeover might be brewing again, interested parties mentioned in results release
I would exclude 1 as there would be much larger trading volumes for the pump, $0.5M that traded today before the halt looks like unsuspecting sell orders that were there for some time.
3. will be eventually on the cards again for OFX, but full year results are stale information, usually not the best place to inform about suitors.
Which leaves 2. as possible explanation - the question is how good results can be, to justify that someone in the know was happy to pay 20% more today (OFX would likely close over $1.35 if not halted).
OFX Price at posting:
$1.32 Sentiment: Hold Disclosure: Held
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