Melbana Energy Ltd (ASX: MAY) has announced a trading halt
Melbana Energy Ltd (ASX: MAY) has announced a trading halt.
There are a few reasons why a stock would go into a trading halt. It is generally ahead of a news announcement.
Melbana Energy Ltd has requested the trading halt pending an announcement by the Company in relation to the Alameda-1 well drilling results.
Trading halts are typically enacted in anticipation of a news announcement, to correct an order imbalance, as a result of a technical glitch or due to regulatory concerns.
Halts may also be triggered by severe down moves, in what are called circuit breakers or curbs.
The trading halt will remain in place until normal trading commences on February 1, 2022 or when the company announcement is made.
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