Regional Express Holdings Requests Trading Halt Pending Major Announcement
REX (REX) Share Update July 2024 Monday 29th
Regional Express Holdings Requests Trading Halt Pending Major Announcement
Regional Express Holdings Limited (ASX: REX) has requested an immediate trading halt on its securities pending a significant announcement related to a recent news article.
Instant Summary:
- Trading halt requested by Regional Express Holdings Limited (REX).
- Halt is in response to a news article published on July 27, 2024.
- Trading halt to last until July 31, 2024, or until the announcement is made.
Trading Halt Details
On July 29, 2024, Regional Express Holdings Limited (REX) requested that its securities be placed in an immediate trading halt. This request was made pending the release of a significant announcement related to a news article published on July 27, 2024.
The Australian Securities Exchange (ASX) has agreed to the trading halt, which will remain in effect until the commencement of normal trading on Wednesday, July 31, 2024, or until the announcement is made, whichever comes first.
Reason for the Trading Halt
REX has indicated that the trading halt is necessary to ensure that the market remains fully informed. The company has not disclosed the specifics of the forthcoming announcement but has confirmed that it is material in nature.
In a letter to Nicola Lombardi, Listing Adviser at ASX Compliance, Richard Kwan, Company Secretary of REX, stated that the company is not aware of any reason why the trading halt should not be granted. He also affirmed that there is no other information that needs to be disclosed to the market regarding the trading halt.
The trading halt requested by REX indicates that the forthcoming announcement could have a significant impact on the company's stock price. Investors should prepare for potential volatility once the announcement is made. The nature of the news article published on July 27, 2024, remains unclear, but its material importance suggests that it could influence investor sentiment and market behavior.
Investor Reaction:
Analysts and investors are on high alert, awaiting the details of the announcement. Some investors have expressed concern over the uncertainty, while others are optimistic that the announcement could bring positive news for REX.
Conclusion:
Investors should stay tuned for the upcoming announcement from Regional Express Holdings Limited, which is expected to be released by July 31, 2024. The trading halt is a precautionary measure to ensure that all market participants receive the information simultaneously. Investors are advised to monitor the situation closely and consider the potential impact on their portfolios.