Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi James and Team Strandline have requested an extension to their voluntary suspension to 15th Jan 2024 when they expect to make an announcement regarding the status of a revised operations strategy and associated funding requirements. Do you have any information in regards to this situation. regards Deb
Hi Deb,
From what we understand, they’re trying to sort out a range of issues that are both operational and financial in terms of renegotiating debt/funding, the latter being a real issue for them. As a reminder, we sold STA over a year ago at 41c for our Emerging Companies Portfolio, a good move in hindsight with the stock currently under 10c, not a degree of drop we expected.
The company asked for an extension to its voluntary suspension on Tuesday and while we don’t yet have any firm details it doesn’t feel good.
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