Why has Magnis Energy Technologies Ltd requested a trading halt?
Magnis Energy Technologies Ltd (ASX: MNS), a lithium-ion battery technology company, has made a request for an immediate trading halt for its securities. The company has provided the Australian Securities Exchange (ASX) with the following information in compliance with Listing Rule 17. 1.
What is the reason for the trading halt?
The company is requesting the trading halt to allow itself enough time to prepare a disclosure concerning iM3NY's loan facilities. This indicates that there may be important information regarding loan facilities provided by iM3NY that the company needs to disclose.
How long will the trading halt last?
Magnis Energy Technologies Ltd has requested that the trading halt on its securities continue until either the announcement regarding iM3NY's loan facilities is made or trading resumes on Wednesday, 8 November 2023.
About Magnis Energy Technologies Ltd:
Magnis Energy Technologies Ltd is a company involved in lithium-ion battery technology.
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It is invested in and has partnerships along the electrification supply chain. The company has stakes in two battery manufacturing plants, one in the US and another in Townsville, Queensland. Additionally, Magnis Energy Technologies Ltd is a partner in a battery technology company based in the US.
Please note that no further details about the loan facilities or the reasons behind the trading halt have been provided at this time.
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