Western Areas Ltd (ASX: WSA) has announced a trading halt
Western Areas Ltd (ASX: WSA) 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.
Western Areas Ltd has requested the trading halt pending the release of an announcement by the Company providing an update as to the status of the proposed acquisition by IGO Ltd of all the fully paid ordinary shares in the Company by way of a scheme of arrangement under Part 5.1 of the Corporations Act 2001, while the Company considers the draft Independent Expert Report.
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 April 7, 2022 or when the company announcement is made.
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