Possibly emma but not necessarily. Could be other valid reasons...

Possibly emma but not necessarily. Could be other valid reasons for a TH.

My take is that a TH gets called if the market risks trading on an uninformed basis. If they need time to inform the market properly then they call TH. I imagine there are plenty of other god reasosn why they need time to properly inform the market.

Could also be if they suspect a leak and wish to kill off that risk until they can announce the news (good or bad) properly.