PET 0.00% 2.5¢ phoslock environmental technologies limited

The company requested the trading halt. ASX however might want...

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    The company requested the trading halt. ASX however might want to ask questions about the sp & volumes yesterday.

    The quarterly (issued on 28th July) reported that discussions were underway in Poland and contract negotiations were taking place in Finland and Netherlands.
    If a contract had been signed in the last 12 days would this be enought to warrant a trading halt after disclosing the possibility of such contracts being close to finalisation? I wouldn't have thought so. A trading halt normally relates to previously undisclosed information.

    The company is about to release its half yearly report, and this report would have been close to being finalised 12 days ago. So something has happened in the last 12 days.
    Perhaps it is a contract being signed & they're trying to create some hype.
    Perhaps they have been served some legal notices.
    Perhaps a buy out has been negotiated.

    In its request to ASX for the trading halt the company gives the reasons as -

    PET expects to make an announcement to ASX regarding material disclosures in the half year report / review
    PET requests that the Trading Halt continue until the earlier of:
    i. such time as PET releases an announcement to ASX in relation to its half year accounts; or
    ii. the commencement of trading on Monday, 14 August 2023;


    So we know the pending announcement relates to the half year accounts, and this announcement will be made tomorrow. I would imagine the half yearly report would be issued soon as well.

 
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