This was supposed to reopen the earlier of an announcement being made or at 10am today.
Clearly the ASX have had to exercise their option to continue the trading halt.
Its a very poor look from the company to fail again to meet a deadline and fail to even issue an announcement to continue the trading halt.
If I was running the company and the additional capital had been raised I would have stayed up all night writing the announcement and made sure that it came out at 7.30am this morning so that investors could review it and the stock could then have reopened at 10am.
If I was running the company and I had failed to raise the full $15M in cash by the due date I would have apologized to all shareholders and resigned.
AVZ Price at posting:
4.4¢ Sentiment: None Disclosure: Held