ASX rules requires that before any price sensitive information be released a trading halt is applied. Max time frame of the halt is 2 days.
In the past there have been various interpretations of "price sensitive information". However, in this instance, the SIRFLOX results falls squarely within that preview. If SRX released the results without a trading halt, they can be fined.
The intention is to ensure equity in the market dynamics. Not so much in terms of information exchange (since a few people would already have some idea) but rather in terms of the execution of trades such that a false market cannot be created.
SRX Price at posting:
$39.00 Sentiment: Hold Disclosure: Held
