Doubtful. Trading halts can either by instigated by the ASX (in certain circumstances) or at the Company's request. Anything therefore being done to try and better inform the market /shareholders would be considered a good thing. So, the ASX would not reject any request coming from the Company.
As to this morning's suggestion that there had been a trading halt, I doubt that this ever occurred (even though it should have). There was nothing showing on /via CHI-X. Nor anything that has since come up on ASX. It might however have been an overloading /reloading issue on one or more of the broker platforms (especially the DIY trading platforms).
With 84M shares so far traded today, added to yesterday's volume of 77M (161M+ since yesterday), we are well into the 50+ turnover territory today (assuming 1x churn, only).
Since last Thursday, the following turnover has occurred:
Date Open High Low Close Volume Adj Close* 1 26 Nov 2015 1.92 1.94 0.90 0.94 77,023,100 0.94 2 25 Nov 2015 2.04 2.04 1.91 1.94 6,415,400 1.94 3 24 Nov 2015 1.98 2.10 1.94 2.00 13,066,800 2.00 4 23 Nov 2015 2.65 2.65 2.15 2.15 17,276,500 2.15 5 20 Nov 2015 3.08 3.12 2.63 2.68 9,099,300 2.68 6 19 Nov 2015 3.26 3.32 3.03 3.05 6,609,300 3.05
That's 213M shares trade din the last 6.1/2 trading sessions, or 60% of the Company's issued share base, and counting.
In such circumstances, the ASX would ordinarily welcome a Company requesting a trading halt, to help explain, clarify or update matters /circumstances. The longer this goes on however, the worse it potentially becomes if indeed there is an upcoming trading halt for any reason (ie: within the next few days), as the immediate question will be - why then the delay?
As said before, Investor Relations does not have a very good grip on any of this and for such a media savvy company as is SGH, that is arguably a damning indictment.
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