They were in a trading halt pending announcement of a capital raising, they couldn’t secure an arrangement within the two day limit for trading halts so went into voluntary suspension for an additional week to buy themselves more time.
This coming week will be very telling, in my past observations failure to come out of voluntary suspension this week will mean they are almost certain to wind up in administration.
Even if they can come out of suspension this week, their ongoing excessive cash burn rate and minimal income will see further raising being required so it is a high risk of administration at some point.
AEB Price at posting:
0.9¢ Sentiment: Sell Disclosure: Not Held
