Ann: Voluntary Suspension from Official Quotation, page-23

Hmm I'm guessing bad results coming and they know they've broken the 4.5x EBITDA covenant.

If Net debt remains at US$625 and:
- SDA achieves lower end of FY19 guidence of US150m EBITDA then the ratio is 4.17x
- SDA achieves the upper end of FY19 guidence US$160m then the ratio becomes 3.90x

If I had to guess the reason for the suspension then they missed the lower guidance above by around $12.22m USD , EBITDA in the coming ANN is around US137.78m or less which makes the leverage ratio 4.5x or above and has triggered the EBITDA covenant. Recap is required via dilution. Not sure they can finance this with more debt anymore...

Made a nice return playing the reversals on this 52% and a 25% return on two trades but per above the fundamentals still looks very shaky. I wont be buying back in for a third time, when she trades again. Good luck to all