It's not just simply working on a deal that requires a trading halt/suspension, it's the signing of a deal (not sure if the rule actually says "signing" but let's go with that for sake of argument." So let's say we have agreed to buy "Frank's Auto Shop." If you go by the letter of the law, as soon as Dave and Frank sign that contract, the market has to be informed immediately. Thats's pretty much impossible, so the company asks for a trading halt while they work on press releases, statements, website updates, ASX paperwork, and so on. If it takes longer than two days they change it to a suspension.
As for the 4C, that's not technically due until tomorrow morning. (Wasn't the last one posted just before opening?). So ok then, fine. Dave usually writes a lengthy commentary and whatever this acquisition is, it's safe to assume that Dave and Buddy have been working on it during the past Q, but they can't mention it in the commentary unless the news has officially dropped so.... maybe he is waiting for everything to be done so he can release a full commentary.
- Forums
- ASX - By Stock
- Ann: Suspension from Official Quotation
It's not just simply working on a deal that requires a trading...
-
-
- There are more pages in this discussion • 68 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add BUD (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
HAR
HARANGA RESOURCES LIMITED.
Peter Batten, MD
Peter Batten
MD
Previous Video
Next Video
SPONSORED BY The Market Online