'Material transaction' is reason for halt
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'Material transaction' is reason for halt
On the ASX announcement:
Reason for trading halt: PPH is at an advanced stage of finalising a material transaction. It wishes to ensure an orderly market while the terms of the transaction are finalised.
Acquiring something?
Not sure if it is still relevant, but there was this comment about a raise in an NBR article in November. This would seem to fit the bill?
https://www.nbr.co.nz/article/pushpa...keven-b-210034
To PPH shareholders, "Keep your faith and pray."
25,125 went through at $4.40 just before announcement an hour later. Perhaps a last gasp effort to pick some up at a cheaper rate.
With its current market cap any acquirer would have to wait years and years if not decades before they were cash flow positive on the transaction.
Probably why not a takeover but a good reason for principles selling down if they’ve found a buyer.
Then again a material transaction is an acquisition
http://nzx-prod-s7fsd7f98s.s3-websit...516/281212.pdf
Possibly not what shareholders are hoping for. Co-founder selling out completely (for personal reasons) and apparent indefinite deferral of NASDAQ listing.
Good luck to holders.