Bluefreeway receives voluntary suspension May 7, 2008Posted by David Gillespie in industry news.
Tags: ASX, Bluefreeway, Mitchell Media
Bluefreeway requested and received a voluntary suspension from trading today. Their shares had been on hold since last Friday after a request for a temporary trading halt was approved Monday. The halt was due to expire this morning, the shares have now been suspended with no date attached to it.
In a letter to the ASX this morning, Bluefreeway said it needed to undertake further investigations due to restructuring efforts in order to make an announcement on its expected revenue for the financial year ending June 30, 2008. Stating it would take up to two weeks to conclude investigations, the company expects the subsequent announcement to end the suspension.
What all this means is anyone’s guess, though after the spate of resignations they’ve experienced this year and Mitchells stepping away from buy-out talks, how deep the rabbit hole goes is anyone’s guess.