A Trading Halt is limited to a few trading days.
If the company is not ready to make the promised announcement they will turn the trading halt into a "Voluntary Suspension" which does not specify a limited period for action, until the company is able to make the announcement, after which it will return to normal trade.
One interesting difference is that if it goes from TH to VS, all bids are wiped, and need to be re-inserted prior to recommencement of trade.
The stock will not automatically go back to trading if a TH expires, so I assume if the company doesn't update the ASX in time then a VS comes into play anyway (and terse words are exchanged between the ASX and the company secretary behind the scenes...)
That's my limited understanding of how these things work.
I don't generally enjoy THs as in the vast majority of cases I end up losing money!
Maybe this is one of those rare and welcome exceptions?
Hope that helps...
sasa
TAW Price at posting:
36.0¢ Sentiment: Hold Disclosure: Held
