Rockwell Diamonds Inc (TSE: RDI)
Rockwell Automation was having a relatively normal day in the market today. That is, until minutes ago when the stock was halted. Of course, the halt led to an alert from our partners at Trade Ideas.
Why RDI Was Halted
As mentioned above, Rockwell Diamonds was off to a normal day before being halted minutes ago. The halt happened after the company applied for a voluntary halt to trading on its equity on the JSE after the TSX suspended trading pending delisting review.
The halt will remain in place until the outcome of the final hearing surrounding the company’s liquidation application is available. It is scheduled to take place on April 12th. In a statement, RDI stated the following…
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“The company is of the view that it is prudent to suspend trading of its shares on the JSE, until such time as the TSX has provided feedback on its delisting review.”
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on RDI. In particular, we’ll be watching the delisting review as well as the results of the liquidation application. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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What Do You Think?
Where do you think RDI will be headed after the halt? Join the discussion in the comments below!
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