AXL suspended from official quotation as strategy review underway

Today Axsesstoday’s securities were suspended from official quotation, at company’s request pending the release of an announcement regarding a business strategy review.

This comes after the securities of Axsesstoday Limited (ASX:AXL) were placed in the trading halt on 12 September 2018 which was subject to removal on the earlier of 14 September 2018 or release of an announcement.

Since no announcement has been made by the company till date, the trading halt lapsed today morning, i.e. 14 September 2018. But due to the Board’s requirement to undertake the detailed review of the business strategy, finance company Axsesstoday Limited requested ASX for voluntary suspension of its securities which was later granted. 

Today, 14 September 2018, the company has also informed the resignation of co-founder Mr. Peter Ferizis from the role of Director of the company. It has been reported that non-executive Directors Kerry Daly and Michael Sack will assume the roles of Executive Chairman and Executive Director, respectively.

Axsesstoday Limited’s stock last trade at $1.625. The stock has seen a daily price change of +1.562% on 11 September 2018 and the performance change of +3.50% over the past 12 months. Currently, the stock is trading at PE of 13.710x with the market capitalization of $105.95 million.

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