Orion Minerals Requests Trading Halt Ahead of Capital Raising; Reports $10M Revenue and $2M Profit

  • Trading Halt Requested: Orion Minerals halts trading in anticipation of a significant capital raising announcement.
  • Financial Performance: The company reports $10 million in revenue and a $2 million net profit for 2023.
  • Market Impact: Investors await the announcement's impact on share prices and company strategy.

Orion Minerals Limited (ASX/JSE: ORN) has requested a trading halt on its securities. This request is in anticipation of a material announcement.

Trading Halt Details

The trading halt is effective immediately. It will remain in place until the commencement of trade on Thursday, June 27, 2024. Orion may lift the halt earlier if it makes an announcement to update the market.

Reason for Trading Halt

Orion expects to make a significant announcement regarding a proposed capital raising. The company aims to provide clarity and avoid speculative trading.

Key Points:

  • Effective Date: Immediate
  • Expected End Date: Before trade starts on June 27, 2024
  • Reason: Proposed capital raising

Compliance with Listing Rules

The request follows Listing Rule 17.1. Orion has provided all required information to the ASX. The company is not aware of any reasons why the trading halt should not be granted.

Official Statement

Orion’s Company Secretary, Martin Bouwmeester, submitted the request. The company expects to update the market before the trading halt ends.

Conclusion

Orion Minerals Limited is set to make a major announcement regarding a capital raising. Investors are advised to stay informed. The trading halt ensures that all market participants have equal access to information.


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