2 Stocks in Trading Halt – Sky and Space Global Limited (SAS) and Lake Resources (LKE)

  • Apr 04, 2019 AEDT
  • Team Kalkine
2 Stocks in Trading Halt – Sky and Space Global Limited (SAS) and Lake Resources (LKE)

Sky and Space Global Limited (ASX: SAS) primarily functions in the telecommunication services sector. Based on nano-satellites, it is a developer of a narrow-band communication network. Real-time tracking for airliners and shipping companies, service for cellular networks and voice and instant messaging are some of the services it provides. The group is a pioneer of planning, building and operating a commercial telecommunication network over nano-satellites.

The directors of the company have requested that the company’s securities to be placed in a voluntary trading halt as per the ASX Listing Rule 17.1, pending an announcement in relation to a key supplier agreement.

The company requests that the trading halt to end on the earlier of the commencement of normal trading on Monday 8 April 2019, or when the announcement is released to the market. The company is unaware of any reason why the trading halt should not be granted, nor of any other information, which is necessary to inform the market about the trading halt, and it confirms that the request for a trading halt is material.

On the price-performance front, the stock of Sky and Space Global Limited at market close on 4th April 2019, traded at A$0.028, with a market capitalisation of A$58.98 million. The stock has generated a negative YTD return of 47.17%, with negative returns of 54.10%, 46.15% and 3.45% over the past six months, three months and one-month period, respectively. Its 52-week high price stands at A$0.130 with an average trading volume of 5,370,519.

Lake Resources N.L. (ASX: LKE) operates in the area of lithium exploration. The company’s portfolio includes exploration programmes, including regions with prime lithium basins and pegmatites in Argentina. The company stands among some of the largest players in the lithium sector and fully controls one of the largest lithium tenement packages in Argentina.

On 4th April 2019, as per the Listing Rule 17.1, Lake Resources requested an immediate trading halt on its securities due to the pending release of a Competent Person statement in support of the company’s exploration target at its Kachi Lithium Brine Project.

The company previously announced the exploration targets for the Kachi Lithium Brine Project on 27 November 2018, which included the Competent Person statement. However, the unchanged exploration target included in the ASX announcement released on 3 April 2019 titled “Kachi PFS to unlock Top 10 Global Lithium Brine Resource” did not include the Competent Person statement. The trading halt is requested until the earlier of the release of the Competent Person statement or prior to the commencement of trading on Monday, April 8, 2019.

On the price-performance front, the stock of Lake Resources N.L at market close on 4th April 2019, traded at A$0.059, with a market capitalisation of A$21.65 million. The stock has produced negative returns of 35.87%, 32.18% and 4.84% over the past six months, three months and one-month period, respectively. Its 52-week high price stands at A$0.145, with an average trading volume of 347,468.


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