Originally Posted by
Bilbo
Thanks for the link. So looks like a TH lasts for up to 48 hours. If the announcement not made within that period NZX can suspend the listing.
"If an announcement has not been made by the agreed time,NZX may suspend the issuer’s securities from quotation. This is to ensure that an issuer makes itsannouncements within the time period it has specified in its application for a trading halt. If more than a48 hour trading halt is needed issuers should approach NZX about a waiver from the disclosure rules orrequest NZX to exercise its power to suspend the issuer’s securities under NZSX and NZDX Listing Rule5.4.2(b) or NZAX Listing Rule A5.3.2(b) (as the case may be) pending the release by the issuer. Whenexercising this power NZX can disclose the grounds for doing so, obviating any negative impression thatmay result from a suspension"
Also interesting that no reason for the TH was released to the market, so the reason must be confidential or commercially sensitive. "The application and the reasons for the trading halt will generally be released to the market together withany other information necessary to keep the market informed. If the reasons for the request areconfidential or commercially sensitive and should not be released to the market, this should be noted inthe issuer’s request to NZX."