Option 1. They have received the cheque, or correspondence confirming when they will, which means the halt will be short and possibly lifted late today.
Option 2. The deal has fallen through on current terms or Beauwal are simply playing hard-ball. In this case ECS will need to negotiate further with the Beauwal Group, or possibly go back to the table with the other bidders...in this case, I would expect the trading halt to last the full term and possibly even be followed by a suspension.
Option 3. Without the money, ECS are effectively insolvent, in which case they had no choice but to appoint receivers until all is sorted out!
I hope for everyones sake it is option 1...but I don't like your chances.
Cheers!
ECS Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
