Ann: Suspension, page-10

There is nothing dreadful or ominous about going into a ‘Suspension’. It is not to be regarded as a penalty of some sort imposed by the ASX. It simply means that the company could not complete what it intended to do in the standard 48 hour Trading Halt. Since it had to go into suspension company management may have said, “Then let’s do the job properly (not in haste) and take a few more days to contact a greater range of ‘Sophisticated Investors’.”
Additional inferences possible are that, too many Sophisticated Investors have said no to a placement, resulting in a search for overseas replacement investors (time consuming).
Note that it is always good for small high risk companies to tap different markets for funds as the occasion arises. Share Purchase Plans (for retail) can be done only once a year.
Juke