The market may be on course to have a strong finish to the week, but not all shares have been able to follow it higher today.
The three companies listed below have put their shares in trading halts this morning and are missing out on the positive investor sentiment. Here's why they are halted:
Animoca Brands Corporation Ltd (ASX: AB1) shares are in a trading halt whilst the mobile games company prepares an announcement relating to a proposed strategic investment. The company has requested that the trading halt remains in place until the earlier of commencement of normal trading on Tuesday October 2 or the release of the announcement. Animoca Brands finished the first half of FY 2018 with $2 million in cash and raised another $6 million just after the half ended.
Bionomics Ltd (ASX: BNO) shares have been placed into a trading halt pending an announcement regarding the results of its highly anticipated BNC210 Phase 2 clinical trial in patients with Post Traumatic Stress Disorder. Bionomics' shares are expected to remain halted until the commencement of trading on Tuesday. I'm very excited about the potential of the BNC210 product. According to CEO Dr Deborah Rathjen, "BNC210 has the potential to be an innovative treatment for patients with PTSD with a solid foundation of clinical data supportive of development not only in PTSD but also in anxiety disorders and conditions where there is co-morbid anxiety and depression."
Blue Sky Alternative Investments Ltd (ASX: BLA) shares have found themselves in a trading halt for the umpteenth time this year. However, on this occasion it could be a positive for the asset manager's long-suffering shareholders. According to the request, the trading halt has been called for pending an announcement by the company in relation to details of a material transaction with Oaktree Capital Management. Earlier this week the AFR suggested that Oaktree was preparing to sign on the dotted line for a five-year convertible note which could leave the private equity group with as much as a 30% in the listed company. The report suggests the notes would be in the range of $50 million to $60 million. Blue Sky's shares are expected to return to trade on Monday.
