KZA (ASX) Ann: Trading Halt

Originally posted by Rich&Poor ↑

Our last trading halt for a capital raising was 24 October 2019 and read as follows:-

"24 October 2019
ASX Limited
20 Bridge Street
Sydney NSW 2000
By email: [email protected]
Dear Sir
Request for trading halt: Kazia Therapeutics Limited ASX Code KZA
Kazia Therapeutics Limited (“Kazia” requests a halt in trading of Kazia’s securities listed on ASX effective from before the open of trading on Thursday 24 October 2019,pending the release of an announcement with regard to a proposed capital raising.

In accordance with ASX Listing Rule 17.1, Kazia provides the following information:

(a)Kazia is requesting the trading halt as it expects to make an announcement to the ASX in connection with a proposed capital raising.

(b)Kazia requests that the trading halt continue until the earlier of:
i.The commencement of normal trading on Monday28 October 2019;and
ii.Kazia making an announcement regarding the proposed capital raising to the ASX.

(c)Kazia is not aware of any reason why the trading halt should not be granted.

(d)Kazia is not aware of any other information necessary to inform the market about the trading halt.

Yours sincerely
Kate Hill
Company Secretary"

An extract from the trading halt made today 7 April 2020 reads as follows:-

"In requesting the trading halt, the Company provides the following information:
(a)the trading halt is requested in respect of finalising an announcement on a financing transaction;"

Raising 7.2mil @40 cents does not make sense!
IMO finalising a deal regarding Paxalisib is a more likely outcome.

Regards.

Expand

Good point @Rich&Poor...it would devastate most long term holders if, as @GCInvestor has said (and i have no reason to doubt his word), it was simply a CR, without a further transaction to justify giving away our value by a 40c valuation!

Certainly, it makes sense as they also mention this as a double TH...so 1 for the CR and another for the Transaction...but for what is the mystery.

I wouldn't be surprised to see a new molecule as another investment, I recall JG saying that they had something they were working on and should be finalised in 6 months...that was from the Ann Meeting.

It would make no sense that they would sell this short without some larger benefit...doesn't fit their recent good practices.