A trading halt is a temporary suspension of the securities from trading on the stock exchange. Below are three stocks which were placed on Trading Halt today:
Croplogic Limited (ASX: CLI)
Croplogic Limited is an award-winning global digital ag-tech company. It specializes in providing soil moisture management solutions.
On 18 April 2019, the shares of CLI were placed under the trading halt pending the release of an announcement related to the fundraising. The shares will be under the trading halt until the earlier commencement of the normal trading on 24/4/2019 or when the announcement is released to the market.
The shares of CLI traded last on 16 April 2019 with the closing price of A$0.040. Croplogic Limited holds a market capitalization of A$11.86 million and approximately 296.6 million outstanding shares. The stock has offered an outstanding YTD return of 207.69% to its investors till date.
Hawthorn Resources Limited (ASX: HAW)
Hawthorn Resources Limited (ASX: HAW) is an ASX listed diversified gold and base metal explorer company. It has substantial strategic tenement holdings across Western Australia. Hawthorn Resources Limited was founded in 1985 and is headquartered in Australia.
Today on 18 April 2019, the securities of HAW were put on a trading halt on ASX upon request of the company. The reason for the trading halt request given by the company was that it was under the process of discussion and negotiation about the future exploration and development of the minerals as well as the development tenements in Eastern Goldfields area of WA. The discussions and negotiation involve the optimum methods to maximize the wealth of the company’s shareholders by developing the gold projects of the company.
Around AEST: 1:07 pm, the company released an announcement where it entered into a binding asset and purchase agreement with Saracen Mineral Holdings Limited (ASX: SAR) and its subsidiary company Saracen Gold Mines Pty Limited.
As per the agreement, the interest of the company in Box well and Deep South mining leases along with 18 tenements and leases will be sold to Saracen Mineral Holdings Limited and its subsidiary company Saracen Gold Mines Pty Limited. The consideration for the assets is worth A$13.5 million and will be payable in cash.
The sale is subject to usual terms and conditions that is precedent for such kind of transactions as well as the due diligence by SAR.
After the release of this announcement, the shares of HAW resumed trading on ASX, settling at A$0.070, up by 1.449%. HAW holds a market cap of A$22.54 million and approximately 326.62 million outstanding shares. The stock has offered an impressive YTD return of 68.29% to its investors till date.
Surefire Resources NL (ASX: SRN)
Surefire Resources NL (ASX: SRN) is a company from the metals and mining sector that is engaged in the exploration of the mineral resources.
Today, on 18 April 2019, the securities of Surefire Resources Nl were put on trading halt, until the announcement of the normal trading on 24 April, in order to facilitate an orderly market in the company’s securities pending an announcement regarding the project areas of the company in Western Australia as well as the settlement of its previously announced tenement acquisition.
The shares of Surefire Resources Nl traded last on 12 April 2019 with the closing price of A$0.003. SRN holds a market capitalization of A$1.32 million and approximately 440.65 million outstanding shares.
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