Forum Topics Trading Halts
mmff
3 years ago

Most Companies go into trading halts for Capital Raisings, Drilling Results, Acquisitions, Speeding Tickets (or other ASX related reasons) and Project updates but today amongst all the other THs today there are 2 x Stocks today gone into trading halts today re 1/4 results & guidance-

1. Buddy Technologies Ltd (BUD)~I hold

  •  the Company makes the request pending an update to its March financial results;
  •  the trading halt is to last until the earlier of the Company releasing the update, or commencement of normal trading on 23 April 2021; and
  •  the Company is not aware of any reason why the trading halt should not be granted., and

2.Sequoia Financial Group Limited (SEQ)

  •  Reason for trading halt – To avoid trading taking place on an uninformed basis and to allow the Company time to finalise an announcement in relation to the Company’s earning guidance 
  •  Duration of the trading halt – Sequoia expects the trading halt will last until it makes an announcement to the ASX concerning the earnings guidance, which it expects to make before the commencement of trading on Friday, 23 April 2021.
  •  Termination of the trading halt – Sequoia anticipates the trading halt will cease upon the earlier of an announcement in relation to the above or the commencement of normal trading on Friday, 23 April 2021
  • . No reason – Sequoia is not aware of any reason why the trading halt should not be granted.
  •  Further information – none

I can only remember a couple of other stocks going into TH's for financial guidance or results & they weren't pretty.....I hope for holders of these 2 x companies that all is well!

 

6
Rapstar
3 years ago

Herd a rumour that SEQ will be announcing an upgrade. I think it would be strange to downgrade two months after upgrading guidance. 

Please note the management are entitled to an incentive if the share price can get to a 90 day VWAP of 55 cents by June 30......they have a motive to make a song and dance about it...

8
Noddy74
3 years ago

I noticed that in relation to Buddy this morning as well as it's on my watchlist.  I'm not sure whether it indicates the sentiment of the update or not but either way I'm not a fan of it becoming a thing.  When people external to the organisation are getting involved (e.g. mergers/acquisitions, institutional capital raises etc.) I can understand why management would feel a trading halt was appropriate.  But when the only people in the know are internal to the company it doesn't speak highly of how management view their own employees and their predisposition to insider trading.  

4