Forum Topics SOM SOM Trading Halt - trading update

Pinned straw:

Added 8 months ago

place your bets… trading better or worse than previously expected…



Market Announcement

27 March 2024

27 March 2024 Market Announcement 1/1

ASX Limited ASX Customer Service Centre 131 279 | asx.com.au

#10709173v1

SomnoMed Limited (ASX: SOM) – Trading Halt

Description

The securities of SomnoMed Limited (‘SOM’) will be placed in trading halt at the request of SOM, pending it

releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the

earlier of the commencement of normal trading on Tuesday, 2 April 2024 or when the announcement is

released to the market.

Issued by

ASX Compliance

27 March 2024

Listings Compliance ASX Limited

Email: tradinghaltssydney@asx.com.au

Dear Sir/Madam,

SomnoMed Limited ACN 003 255 221 (ASX:SOM) – Request for trading halt

SomnoMed Limited (Company) requests ASX grants an immediate trading halt of its securities pursuant to ASX

Listing Rule 17.1.

The Company provides the following information for the purposes of ASX Listing Rule 17.1:

• The trading halt is requested pending the Company making an announcement regarding a trading update and

earnings guidance.

• The Company requests the trading halt remain in place until the earlier of the Company making the

announcement referenced above, or commencement of trading on Tuesday, 2 April 2024.

• The Company expects that release of the announcement referenced above will end the trading halt.

• The Company confirms that it is not aware of any reason why the trading halt should not be granted or of any

other information necessary to inform the market about the trading halt.

Terry Flitcroft

Company Secretary

SomnoMed Limited

wtsimis
Added 8 months ago

Hard to gauge which way this may go @GazD as the two new CEO's Karen and Amrita have had several weeks to review the business for themselves this would be the time to flush out any bad news but i also suspect it may a great opportunity to set the platform for the pathway forward and possibly positive news on REST Assure.

In context the SP has been battered down from around $1 in past year to 38.5c or 62.5% down.

MC is 42m for a business growing at 13% (admittedly currency tailwinds in the Dec half 2023 added several % points). Karen and Amrita re-affirmed the aim is to achieve 3m EBITDA in FY 2024 but this may change.

SOM 28th Feb 24 Half Year .pdf

SOM Feb 28th 24 Solid-start-in-1H-as-core-business-revenues-increase-13.pdf

If this is on track or ahead of schedule a major rerate may be on the cards.

I am leaning to this being positive announcement as the product has real purpose ( i can personally attest to this) and in terms of the share market response based on recent higher volumes and current valuation of the business also feel upside may emerge (65% probability / confidence)

This announcement is key for the joint CEO structure the board have put in place of Karen and Amrita in terms of their credibility and evidence it have work and extract the value the business has been longing for.

Will be watching with interest.

Disc: HL on SM and IRL

9

GazD
Added 8 months ago

Without delving too personally are you happy to share whether you’re using the new generation rest assure product with all the data features? Is it good? Feel free to bat way @wtsimis

6

wtsimis
Added 8 months ago

No i purchased the SomnoMed device approx 2 years ago and using it nightly without the analytics.

Works well. Good night sleep and more importantly Mrs is able to do the same.

I am thinking i will receive a call to upgrade ? Nothing as yet ?

8