eBusiness Weekly
Business Writer
The securities of Invictus Energy Ltd (‘IVZ’) will be placed in trading halt at the request of IVZ, pending it releasing an announcement.
Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Monday July 1, 2019 or when the announcement is released to the market.
Trading halts usually occur when a publicly traded company is going to release significant news about itself.
In order to promote the equal dissemination of information, and fair trading based on that information, a Stock Exchange may decide to halt trading temporarily, before such information is released.
Material developments that warrant a trading halt can include changes that relate to a company’s financial stability, important transactions like restructurings or mergers, public announcements related to a company’s products like a recall, personnel changes to upper management or regulatory or legal announcements that affect the company’s ability to conduct business.
According to managing director Scott Macmillan the Muzarabani project has already attracted significant industry attention ahead of the highly anticipated farm out process, which will commence in the June quarter. In the oil and gas industry a farm out agreement involves one part getting equity in a company in exchange for the drilling of one or more oil and or gas wells.
